Bitcoin and Ether options worth about $2.5 billion expire on June 12, putting the $60,000 to $62,000 Bitcoin range back in focus.
Summary
- Bitcoin options worth $2.23 billion expire today as BTC trades close to $63,000 support levels.
- GreeksLive data showed downside dealer exposure concentrated around Bitcoin’s key $60,000 to $62,000 range.
- Ether options worth about $293 million also expire, with ETH still flat near $1,650.
Around 35,000 Bitcoin options contracts expire today, with a notional value near $2.23 billion. The event is slightly larger than last week’s expiry, but still smaller than major monthly or quarterly expiries.
The current Bitcoin options batch has a put/call ratio near 0.66 to 0.68. Deribit data also placed Bitcoin’s max pain level around $66,000 to $67,000, above the current spot price near $63,000.
Max pain is the price where the largest number of options contracts expire worthless. When spot price sits far below that level, many bullish contracts lose value at expiry.
The event comes as crypto markets remain weak after a difficult week. Bitcoin has bounced slightly, but broader selling pressure remains visible across spot and derivatives markets.
Bitcoin $60K to $62K zone stays in focus
GreeksLive said Bitcoin options positioning has tightened around a narrow set of strike prices. The firm pointed to the $60,000 to $62,000 region as the main downside zone for traders.
“The largest short dealer exposure anchored is at $60K. Collectively, downside exposure is heavily concentrated within the $60K to $62K range,” GreeksLive said.
That range matters because it sits close to Bitcoin’s current support area. If BTC falls back into that band, dealer hedging and stop orders could increase short-term volatility.
Deribit also said positioning remains call-heavy despite recent market stress. That shows many traders still hold upside exposure, even as spot markets stay under pressure.
“Despite recent volatility, positioning remains skewed toward calls across both assets,” Deribit said.
Ether options add to expiry total
Ether options also expire today, adding about $293 million in notional value. Around 175,000 ETH contracts are set to expire, with max pain near $1,750.
ETH traded close to $1,650, staying below its max pain level. The token has struggled to recover after losing higher support zones during the latest crypto selloff.
The Ether options put/call ratio stood near 0.58 to 0.62, showing more call exposure than put exposure. Still, spot ETH has not shown a strong rebound yet.
The total crypto options expiry stands near $2.5 billion. That makes today’s event notable, but not large enough by itself to change the wider market trend.
Spot market remains weak
Bitcoin traded near $62,937, while Ethereum traded near $1,656, according to crypto.news market data. BTC held above the $60,000 area, while ETH stayed close to its lower support range.
Total crypto market value remains near multi-month lows after heavy selling earlier in June. The latest bounce has slowed the decline, but buyers have not yet shown strong control.
As previously reported by crypto.news, crypto spot volume fell to $679 billion in April as retail demand weakened. That report showed that the market is not only facing sellers, but also a shortage of active buyers.
SpaceX’s planned IPO has also raised questions about capital rotation from crypto into major technology listings, as previously reported. That pressure sits alongside geopolitical risk, inflation concerns, and weaker risk appetite.
For Bitcoin, the key level remains the $60,000 to $62,000 range. A clean hold above that zone could limit expiry-related pressure, while a break lower may bring the mid-$50,000 area back into discussion.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
