OPTIONS EXPIRY EXPOSES $BTC DEFENSIVE POSITIONING ⚠️

Today’s expiry covered 25,600 $BTC options with a 0.56 put-call ratio and $16.2B notional value, while $ETH saw 155,000 options expire with a 0.92 put-call ratio and $2.7B notional value. Positioning remains defensive as prices trade well below max pain levels, with GEX concentrated around the lower range and demand rising for downside protection.

The key signal is not a crowded crash trade, but reduced risk appetite and weaker liquidity conviction. IV has only rebounded modestly, suggesting volatility may compress quickly if spot stabilizes. For now, capital flow and stabilization matter more than aggressive rebound assumptions.

Not financial advice. Manage your risk.

#BTC #ETH #CryptoMarket #Options #BinanceSquare

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ETHUSDT

Perp

1,581.29

-9.76%

BTCUSDT

Perp

61,056.1

-3.65%