21,700 Bitcoin Options Worth $1.8B Set to Expire on Friday, Jan. 23

Around 21,700 Bitcoin options with a notional value near $1.8 billion are set to expire on Friday, Jan. 23. The batch shows a 0.75 put/call ratio and max pain around $92,000, per Coinglass, while roughly 118,000 Ethereum contracts worth $346 million also expire with a 0.86 ratio. Spot markets remained weak, with total cap down 1% and BTC near $89,500.