Crypto Markets Bracing for Impact as $16.4 Billion in Options Contracts Set to Expire

A large amount of Bitcoin and Ethereum options contracts is scheduled to expire on Friday, which may have a significant impact on the market.

The $16.4 billion in notional exposure represents one of the largest single-day options expiries of the year, with markets experiencing 'max pain' as the price level where the maximum number of contracts expire worthless.

For Ethereum, this max pain level is at $2,300, which is above its current trading price. This gap may influence the behavior of ETH options sellers and put holders in the final hours leading up to the expiration.