About $2.13B in BTC and ETH options set to expire today
AI Market Summary
Roughly $2.13B in BTC and ETH options expire today, with BTC notional near $1.9B and positioning clustered around key strikes (BTC GEX near $60k; ETH near $1.7k). BTC put/call is 0.7, but ETH put/call has risen to 1.29, signaling increased risk-off hedging. Commentary also flags shifting spot/ETF flows toward selling, raising sensitivity to downside around major levels.
Impact level
● High
Affected assets
BTC/USDT+1.21%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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BlockBeats reported on July 3, citing Greeks.live data, that roughly 31,000 BTC options expire today. The put/call ratio stands at 0.7, with a max-pain level at $61,000 and notional value near $1.9 billion. About 135,000 ETH options are also due to expire, with a put/call ratio of 1.29, max pain at $1,650 and notional value around $230 million.
Greeks.live analyst Adam said Bitcoin has regained the $60,000 psychological threshold this week, but the longer-term downtrend has yet to end. He added that selling from MicroStrategy and spot ETFs has shifted market positioning, with former buyers turning into sellers—often a hallmark of faster declines as markets transition from bull to bear.
Options metrics show this week's expiries make up a sizable share of open interest, with BTC GEX clustered around $60,000 and ETH GEX around $1,700. ETH's put/call ratio rising to 1.29 points to a stronger risk-off stance and growing concern over additional downside.
Market attention remains on U.S. equities and tokenized U.S. stocks, suggesting broader crypto assets could stay under pressure through the third quarter.
