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\n\t\t\t\t\t\t\t\t\tThe end of another week has arrived, meaning more crypto options are expiring while spot markets have fallen to their lowest levels in months.\u00a0\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Around 26,000 Bitcoin options contracts will expire on Friday, June 5, with a notional value of roughly $1.6 billion. This is smaller than last week\u2019s end-of-month event, so it is unlikely to impact spot markets.<\/p>\n
Crypto markets have been in sharp decline all week, with more than $300 billion leaving the space as Bitcoin continues to weaken and Ether and the altcoins get smashed.<\/p>\n
Military strikes between the US and Iran have continued, a deal still seems elusive, and global inflationary pressures are rising.<\/p>\n
This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 0.56, meaning that sellers of long contracts far outweigh short contract sellers. Max pain is around $71,000, according to Coinglass, which is much higher than current spot prices, so most could be out of the money on expiry.<\/p>\n
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $80,000 strike price on Deribit, with $1.6 billion, but short sellers still have $1.1 billion in OI at $60,000. Total BTC options OI across all exchanges has been declining recently, and is at $31.6 billion, according to Coinglass.<\/p>\n
BTC spot is trading around $8,000 below max pain after a brutal week that saw $1.5 billion in liquidations and a brief flush under $62,000 while its positioning skews heavily call-side, said Deribit.<\/p>\n
Meanwhile, crypto derivatives provider Greeks Live said<\/a>, \u201cWith the price breaking below $70K, bears have become more aggressive, with significant increases in put positions at $68K, $65K, and $60K.\u201d<\/p>\n \ud83d\udea8 Options Expiry Alert \ud83d\udea8 BTC spot is trading ~$8K below max pain after a brutal week that saw\u2026 pic.twitter.com\/qmXv8uhHFr<\/a><\/p>\n \u2014 Deribit (@DeribitOfficial) June 4, 2026<\/a><\/p>\n<\/blockquote>\n In addition to today\u2019s batch of Bitcoin options, around 153,500 Ethereum contracts are also expiring, with a notional value of $266 million, max pain at $2,000, and a put\/call ratio of 0.97. Total ETH options OI across all exchanges is around $5.7 billion.<\/p>\n This brings the total crypto options expiry notional value to around $1.85 billion, a relatively small event.<\/p>\n It has been the worst week for crypto markets since early February, with total capitalization tanking to a four-month low of $2.26 trillion.<\/p>\n Bitcoin bottomed<\/a> at $61,300 on Thursday and has not recovered much above this level on Friday morning. The asset remains down over 50% from its peak and is at the bottom of its range-bound channel, where key support lies.<\/p>\n Ether has been mauled, dropping to a 14-month low of $1,730, where it currently trades. Further losses are looking likely as we enter a red weekend for digital assets.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\nYou may also like:<\/h3>\n
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At 08:00 UTC tomorrow, ~$1.81B in crypto options are set to expire on Deribit.$BTC<\/a>: $1.56B notional | P\/C: 0.56 | Max Pain: $71K$ETH<\/a>: $252M notional | P\/C: 0.97 | Max Pain: $2K<\/p>\nSpot Market Outlook<\/h2>\n
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