Bitcoin Options Expiry Event May Not Impact Spot Market

The expiration of $1.8B worth of Bitcoin options contracts on June 5 may not have a significant impact on the spot market due to its smaller size compared to last week's event.

According to Coinglass, the put/call ratio for this batch is 0.56, indicating that sellers of long contracts outnumber short contract sellers. The max pain price is around $71,000, which is significantly higher than the current spot price.

The total crypto options expiry notional value is around $1.85 billion, with Ethereum options contracts worth $266 million also set to expire. This event may be relatively small compared to previous ones, but its impact on the market remains to be seen.