BTC, ETH Brace for $17B Options Expiry Amid Fed Meeting, Tech Company Earnings

Bitcoin and ether options worth approximately $17 billion are set to expire on Deribit, one of the largest monthly expirations of the year. Bitcoin options account for $14.4 billion with 72,716 call and 54,945 put contracts, while ether has around $2.6 billion in options with significant open interests on both sides. The cluster of out-of-the-money (OTM) options indicates traders expect sharp price movements, especially in light of a Federal Reserve meeting and major tech earnings that could heighten volatility. Bitcoin is currently trading near $113,000, close to a max pain level of $114,000, the price at which most options expire worthless. Ether is trading around $4,000, with a max pain level of $4,110. Overall, the upcoming options expiry and macroeconomic factors may lead to significant market swings as participants speculate on future price movements.

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