Data: Approximately $2.51 billion worth of Bitcoin and Ethereum options will expire this Friday.

According to Mars Finance, data from Deribit shows that approximately $2.51 billion worth of cryptocurrency options will expire this Friday. Of this, Bitcoin options have a notional value of $2.23 billion, a put/call ratio of 0.68, and a maximum pain point of $66,000; Ethereum options have a notional value of $291 million, a put/call ratio of 0.62, and a maximum pain point of $1,750. Despite recent market volatility, positioning in both assets remains biased towards call options. Both Bitcoin and Ethereum are trading above their respective maximum pain points before expiration, with put/call ratios below 1, indicating that the market still favors call options.