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$14 Billion in Bitcoin and Ethereum Options Set to Expire Today

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Today, approximately $14.21 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are due to expire.

Market watchers are particularly attentive to this event because it has the potential to influence short-term trends through the volume of contracts and their notional value.

$14.21 Billion Bitcoin and Ethereum Options Expiring

The notional value of today’s expiring BTC options is $12.075 billion. According to Deribit’s data, these 139,260 expiring Bitcoin options have a put-to-call ratio of 0.49. This ratio suggests a prevalence of purchase options (calls) over sales options (puts).

The data also reveals that the maximum pain point for these expiring options is $85,000. The maximum pain point is the price at which the asset will cause the greatest number of holders’ financial losses.

Expiring Bitcoin Options
Expiring Bitcoin Options. Source: Deribit

In addition to Bitcoin options, 1,068,519 Ethereum options contracts are set to expire today. These expiring options have a notional value of $2.135 billion, a put-to-call ratio of 0.39, and a maximum pain point of $2,400.

The number of today’s expiring Bitcoin and Ethereum options is significantly higher than last week. BeInCrypto reported that last week’s expired BTC and ETH options were 21,596 and 133,447 contracts, respectively. In the same tone, they had notional values of $1.826 billion and $264.46 million, respectively.

Expiring Ethereum Options
Expiring Ethereum Options. Source: Deribit

This notable difference comes as this week’s expiring options are for the month and the quarter, with this being the last Friday of March. Deribit options expiry happens on Fridays because it aligns with traditional financial (TradFi) market practices and provides a consistent schedule for traders.

In many global markets, including equities and derivatives, expiration dates for options contracts are commonly set for the end of the trading week—often Friday—to standardize timing and facilitate settlement processes.

Deribit adopted this convention to maintain familiarity for traders transitioning from TradFi to crypto markets and to ensure liquidity and market activity peak at a predictable time.

“Tomorrow is not just any Friday; it’s one of the biggest expiries of the year. Over $14 billion in BTC and ETH options are set to expire at 08:00 UTC. How do you think Q1 will wrap?” Deribit posed in a Thursday post.

Implied Volatility Heading Into Quarterly Options Expiry

Indeed, today’s options expiry concludes the first quarter (Q1) in options expirations. As this happens, analysts at Deribit, a cryptocurrency derivatives exchange, observe the implied volatility (IV) curves for BTC and ETH, showing market expectations of price swings.

Specifically, Bitcoin’s curve indicates a strong bias toward higher prices (upside skew) as calls are priced much higher than puts. On the other hand, Ethereum’s flatter volatility curve suggests less directional bias but still reflects elevated volatility. This hints at anticipated price movement around the expiry date of the $14.21 options.

“Chart 1 – $BTC: BTC showing some serious upside skew, calls priced way higher. Chart 2 – $ETH: ETH’s curve is flatter, but volume is still elevated across the board. Both markets signal anticipation of movement into or post-expiry,” Deribit noted.

Implied Volatility Curves for BTC and ETH
Implied Volatility Curves for BTC and ETH. Source: Deribit on X

This suggests that both Bitcoin and Ethereum markets anticipate movement into or post-expiry. Elsewhere, analysts at Greeks.live shed light on current market sentiment, citing a cautiously bearish outlook dominating investors’ perspective for Bitcoin.

Specifically, they suggest that most traders anticipate a retest of lower price levels around $84,000–$85,000. Bitcoin trading for $85,960 as of this writing indicates a potential downward move in the short term.

However, some traders observe that Bitcoin is stuck in a tight, range-bound trading pattern, implying limited volatility unless a breakout occurs. Against this backdrop, Greeks.live highlights key technical levels.

“Key resistance levels being watched are 88,400 where significant passive selling was observed, and potential support at 77,000 which one trader called the definite bottom,” the analysts wrote.  

Greeks.live analysts also observe that Implied Volatility is under pressure due to the quarterly delivery, noting significant deviations in the IV Mark. This suggests opportunities for traders to exploit these fluctuations through manual or automated strategies.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Price Weakens—Can Bulls Prevent a Major Breakdown?

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Ethereum price started another decline and traded below the $1,880 level. ETH is now consolidating and remains at risk of more losses.

  • Ethereum struggled to continue higher above the $2,000 resistance level.
  • The price is trading below $1,880 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must clear the $1,820 and $1,880 resistance levels to start a decent increase.

Ethereum Price Dips Again

Ethereum price failed to continue higher above $2,100 and started another decline, like Bitcoin. ETH declined below the $1,920 and $1,880 support levels.

It tested the $1,765 zone. A low was formed at $1,767 and the price recently attempted a fresh upward move. There was a move above the $1,800 level but the price is still below the 23.6% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low.

Ethereum price is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $1,820 level. The next key resistance is near the $1,880 level and the 50% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low. The first major resistance is near the $1,920 level.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $1,920 resistance might send the price toward the $2,000 resistance. An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,780 level. The first major support sits near the $1,765 zone.

A clear move below the $1,765 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,680 support level in the near term. The next key support sits at $1,650.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $1,765

Major Resistance Level – $1,880



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Bitcoin Bears Tighten Grip—Where’s the Next Support?

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Bitcoin price started another decline below the $85,000 zone. BTC is now consolidating and might struggle to recover above the $83,500 zone.

  • Bitcoin started a fresh decline below the $83,500 support zone.
  • The price is trading below $83,200 and the 100 hourly Simple moving average.
  • There is a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $83,500 resistance zone.

Bitcoin Price Dips Further

Bitcoin price failed to remain above the $85,500 level. BTC started another decline and traded below the support area at $85,000. The bears gained strength for a move below the $83,500 support zone.

The price even declined below the $82,000 level. A low was formed at $81,586 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low.

Bitcoin price is now trading below $82,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,000 level. The first key resistance is near the $82,750 level. There is also a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Source: BTCUSD on TradingView.com

The trend line is near the 61.8% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low. The next key resistance could be $83,500. A close above the $83,500 resistance might send the price further higher. In the stated case, the price could rise and test the $84,200 resistance level. Any more gains might send the price toward the $84,800 level or even $85,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,800 level. The first major support is near the $81,500 level.

The next support is now near the $80,650 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $81,500, followed by $80,650.

Major Resistance Levels – $82,750 and $83,500.



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Solana (SOL) Price Risks Dip Below $110 as Bears Gain Control

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Solana (SOL) has dropped over 6% in the past seven days and has been trading below $150 since March 6. The current trend shows clear bearish signals across multiple indicators.

From a death cross to a rising ADX and a red Ichimoku Cloud, technicals suggest growing downside pressure. With SOL nearing key support, the next few days could be critical for its price direction.

SOL Ichimoku Cloud Paints A Bearish Picture

The Ichimoku Cloud chart for Solana shows a clear bearish structure, with price action trading below both the Kijun-sen (red line) and Tenkan-sen (blue line).

The Lagging Span (green line) is also positioned below the price candles and the cloud, reinforcing the negative outlook. The Kumo ahead is red and descending, suggesting that resistance remains strong in the near term.

SOL Ichimoku Cloud.
SOL Ichimoku Cloud. Source: TradingView.

Solana has struggled to break above short-term resistance levels and remains stuck in a downward channel. The thin nature of the current cloud suggests weak support, making the price vulnerable to further downside if bearish momentum continues.

For a reversal, Solana would need to break above the Kijun-sen and push decisively toward the cloud, but for now, the trend remains tilted to the downside.

Solana DMI Shows Sellers Are In Control

Solana’s DMI chart shows a sharp rise in the ADX, now at 40.87—up from 19.74 just three days ago.

The ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and values above 40 signaling a very strong one.

This surge confirms that the current downtrend in SOL is gaining momentum.

SOL DMI. Source: TradingView.

At the same time, the +DI has dropped from 17.32 to 8.82, while the -DI has climbed to 31.09, where it has held steady for the past two days.

This setup suggests that the sellers are firmly in control, and the downtrend is strong and also strengthening.

As long as the -DI remains dominant and ADX stays elevated, SOL is likely to remain under pressure in the short term.

Can Solana Drop Below $110 Soon?

Solana recently formed a death cross, a bearish signal where short-term moving averages cross below long-term ones.

It’s now approaching key support at $120—if that level breaks, Solana price could drop to $112, and possibly below $110 for the first time since February 2024.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView.

If bulls step in and buying pressure returns, SOL could rebound toward resistance at $136.

A breakout above that level may lead to a push toward $147, which acted as strong resistance just five days ago.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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