Around 92,500 Bitcoin options contracts worth $10 billion are set to expire on May 30, potentially increasing market volatility.
The put/call ratio of this week's Bitcoin options expiry is 0.87, with a max pain point at $100,000, indicating more long contracts expiring than shorts.
There is high open interest at $120,000 and $110,000 strike prices, reflecting bullish sentiment among speculators in the crypto market.
The crypto market has experienced significant declines with Bitcoin and Ethereum leading losses, amidst a total market capitalization drop to $3.46 trillion.