According to Nic Carter (@nic__carter), this is the first time in history that the max pain point for crypto options is trending upward (source: Twitter, May 27, 2025). The max pain level represents the strike price at which the highest number of options expire worthless, signaling heightened market activity and potential volatility. This upward shift suggests that traders are positioning for higher spot prices, indicating a bullish sentiment among options holders. Market participants should monitor open interest and implied volatility, as these factors can influence both short-term price action and broader crypto market trends.

According to Cas Abbé, $8.04 billion in Bitcoin and Ethereum options are expiring today, with $7.24 billion in BTC options and $800 million in ETH options. The max pain point for BTC options is at $85,000, while ETH options have a max pain at $1,900. Traders should anticipate heightened volatility around these expiry levels, as large options expirations often lead to significant price movements and increased trading volume (source: Twitter/@cas_abbe, April 25, 2025).

According to Cas Abbé, $2.59 billion in Bitcoin (BTC) and Ethereum (ETH) options are set to expire today, with $2.32 billion of BTC options having a max pain point at $82,000, and $270 million of ETH options at $1,750. Traders should anticipate increased volatility in these markets as a result of the expirations. This significant expiry can impact market liquidity and pricing, leading to potential trading opportunities as the market reacts to these expirations.

According to Cas Abbé, $2.52 billion in Bitcoin (BTC) and Ethereum (ETH) options are set to expire today, potentially causing market volatility. Specifically, $2.15 billion worth of BTC options are expiring with a max pain point at $85,000, while $370 million worth of ETH options have a max pain at $1,850. Traders should be prepared for potential price movements as these expiries may impact market dynamics.

According to Cas Abbé, $2.09 billion in Bitcoin (BTC) and Ethereum (ETH) options are set to expire today, potentially introducing significant volatility in the cryptocurrency market. Specifically, $1.83 billion worth of BTC options, with a maximum pain point at $85,000, and $259 million worth of ETH options, with a max pain at $2,000, are expiring. Traders should prepare for possible price fluctuations as these expirations may influence market dynamics.

According to Greeks.live, the concept of max pain being higher does not imply an automatic movement to the max pain price level. This analysis suggests that traders should not solely rely on max pain as a predictor for price movements, emphasizing the complexity of market dynamics.

According to Michaël van de Poppe (@CryptoMichNL), many traders anticipated a downturn in the altcoin market based on historical trends, leading to a 'max crash' scenario. However, van de Poppe suggests that the true 'max pain' would be an unexpected market upswing, catching the majority off guard. This analysis implies a potential for sudden, counterintuitive market movements in the altcoin sector.

According to AltcoinGordon, current market conditions are characterized by 'Max pain & Max fear,' suggesting a critical juncture for traders. The implication is that enduring the current volatility could lead to substantial gains, as historically, such conditions often precede significant market rebounds. Traders may consider maintaining or increasing their positions to capitalize on potential future market recoveries. This perspective emphasizes the importance of resilience and strategic positioning during periods of heightened uncertainty.

According to @GreeksLive, on July 26, 61,000 BTC options expired with a Put Call Ratio of 0.62, a max pain price of $63,500, and a notional value of $4.1 billion. Additionally, 490,000 ETH options expired with a Put Call Ratio of 0.45, a max pain price of $3,350, and a notional value of $1.6 billion.