The crypto market may see strong price swings today as Bitcoin and Ethereum options worth nearly $2.4 billion are set to expire. With the crypto market already under pressure, traders are closely watching key levels, including Bitcoin’s max pain at $70,000 and Ethereum’s at $2,050, which could influence short-term price movement.

$2 Billion Bitcoin Options Expiry Today

According to the latest data from Derbit exchange, around 30,012 Bitcoin contracts, including 18,920 call contracts and 11,092 put contracts, are set to expire today, with a total notional value of $2.00 billion. 

Meanwhile, the current put/call ratio stands at 0.59, showing that more traders are betting on the Bitcoin price to rise.

The most important level to watch is…