Bitcoin options expiry tests market resilience

Around 28,000 Bitcoin (CRYPTO:BTC) options contracts, with a notional value of $2.25 billion, are set to expire on Friday, April 11.

This week’s expiry carries a put/call ratio of 0.88, indicating relatively balanced sentiment between bearish and bullish positions.

The max pain point—a level where most losses occur—is $82,000, while open interest is highest at the $70,000 and $100,000 strike prices, reflecting divided market expectations.

Crypto derivatives provider Greeks Live noted cautious optimism among traders following President Trump’s announcement of a 90-day tariff pause.

“Key levels being watched are $85K as a near-term target and $100K as a longer-term resistance,” the group stated, though skepticism remains about the rally’s sustainability.

Bitcoin’s price has been volatile this week, dropping to a five-month low before recovering marginally to trade around $80,000 on Friday morning in Asia.

The broader crypto market has also seen turbulence, with total capitalisation declining by 3.6% over the past 24 hours to $2.65 trillion.

Ethereum (CRYPTO:ETH) options contracts worth $283 million are also expiring today, adding to the day’s total crypto options expiry value of approximately $2.5 billion.

Market analysts are closely monitoring whether today’s expiry will influence Bitcoin’s trajectory or if the impact will remain muted as in previous weeks.

At the time of reporting, the Bitcoin price was $80,655.38.