$9.5 billion Bitcoin and Ethereum options are about to expire. The key battleground for BTC is at $90,000. On January 29, according to official data from Deribit, more than $9.5 billion in cryptocurrency options will expire at 16:00 Beijing time: • The notional value of Bitcoin options is approximately $8.27 billion, with a put-to-call ratio of about 0.54, and the maximum pain point at $90,000; • The notional value of Ethereum options is approximately $1.27 billion, with a put-to-call ratio of about 0.74, and the maximum pain point at $3,100. Currently, Bitcoin is fluctuating around $90,000. From the options structure, the market's demand for downside risk protection has increased, and traders are generally cautious, but the open interest remains predominantly bullish. Before a large number of options expire, bullish and bearish funds will trade against each other, causing the price to stay near key levels for an extended period. #比特币 #BTC #以太坊 #ETH #Options