Will Crypto Market Crash as Over $15B in Bitcoin, ETH, XRP, SOL Options Expires Today?

Crypto market crash risks mount as over $15 billion in Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Solana (SOL) options expire today. BTC price has dropped below $68,500, dragging the broader crypto market lower.

Traders are bracing for further selloffs amid massive outflows from spot ETFs, rising geopolitical tensions in the Middle East, and over $350 million in crypto liquidations in the past 24 hours.

Traders Brace for Crypto Market Crash amid $13 Billion in Bitcoin Options Expiry

According to Deribit data, 189K BTC options with a notional value of $13.38 billion are set to expire on March 27, with a put-call ratio of 0.57.

However, the 24-hour put volume is significantly higher than the 24-hour call volume. The put-call ratio has increased to 1.28, indicating traders are extremely bearish. Crypto market traders are adjusting their positions amid intense uncertainty and volatility due to the US-Iran war.

Moreover, the max pain price is $74,000, above the current Bitcoin price of nearly $68,500. However, data shows a high probability of expiring below the $68,000 strike price, with 94% for $67,000. Traders are buying $85K and $80K put options, indicating expectations of a crypto market crash today.

As per GreeksLive, block trade data on Deribit shows that options traders are aggressively rolling positions. Many institutional investors have already closed their positions expiring today and “have heavily positioned themselves in out-of-the-money (OTM) call options for June and September.”

Analysts including veteran trader Peter Brandt are bearish on Bitcoin price, despite Trump delayed attack on Iran’s energy plants by another 10 days to April 6. Peter Brandt warned that Bitcoin chart is setting up for a rising wedge sell signal.

Analyst Rekt Capital predicted there are high odds of another dip into the 200-week EMA at $68,200, followed by a retest to see if BTC can solidify a reclaim of support.

What’s Next for ETH Price After Expiry?

Crypto market participants also expect a potential crash amid massive Ethereum options expiry. 1,029K ETH options with a notional value of over $2.11 billion are set to expire, with a put-call ratio of 0.57.

In the last 24 hours, put volume exceeded call volume, with a put-call ratio of 1.12. It shows bearish sentiment among traders as puts dominated calls.

Also, the max pain point is at $2,250. ETH options traders are targeting $2,000 amid crypto market crash concerns. The probability of ETH options expiring above the $2,050 is still at 68%.

ETH price fell almost 4% in the past 24 hours, currently trading at $2,058. The 24-hour low and high are $2,033 and $2,124, respectively. However, trading volume has increased by 12% in the past 24 hours.

XRP Max Pain Price at $1.50 amid Crypto Market Crash Jitters

35K XRP options with a notional value of more than $48.15 million are set to expire today. The put-call ratio is 0.87. Call volume is still higher than put volume, with a put/call ratio of 0.71.

The max pain point is at $1.50, above XRP price of $1.36 at the time of writing. However, traders are betting on XRP to remain above $1.35 despite a broader crypto market crash.

Spot XRP ETFs continue to record inflows, with cumulative net inflows until now reaching $1.21 billion. On-chain data signals whale accumulation remains in the positive region to boost chances of a recovery to $1.50 in the coming days.

Bearish Stance on Solana (SOL)

328K SOL options with a notional value of over $282.46 million to expire, with a put-call ratio of 0.85. In the last 24 hours, put volume was massively higher than call volume, with a put/call ratio of 2.57. This signals that options traders are overall bearish and awaiting the expiry of Bitcoin and Ethereum crypto options for cues on market direction.

Also, the max pain point is at $100, with traders expecting Solana to remain range-bound between $84-$86 in the upcoming days. SOL price has plunged 4% to $86.14 over the past 24 hours. Trading volume has increased by 13% over the past 24 hours.