Bitcoin set for $2B options expiry on May 15 as max pain sits near $80,000

About 25,000 Bitcoin options contracts are due to expire on Friday, May 15, carrying roughly $2 billion in notional value, an event described as too small to meaningfully sway spot markets. The batch features a 0.55 put/call ratio and a max-pain level near $80,000, while total crypto market cap sits at $2.77 trillion after a mid-week dip tied to the U.S. inflation report.