Large-scale expiration of BTC and ETH options today, with a slight dominance of bearish sentiment

2026-01-16 13:40:19

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【Blockchain Rhythm】Today, the options market is experiencing a wave of expirations. Regarding BTC, 20,000 options are expiring today, with the Put Call Ratio reaching 1.39, indicating that the market has a stronger defensive stance against downside risks. The maximum pain point for these options is at $92,000, involving a notional value of up to $2.3 billion, which is quite significant.

The situation for ETH is also worth noting. 120,000 options are expiring today, a substantially larger number. The Put Call Ratio is 1.04, showing that the forces of bearish and bullish options are relatively balanced but slightly leaning bearish. The maximum pain point is at $3,200, with an implied notional value of $430 million. From the data, market participants are slightly more cautious about ETH compared to BTC, but overall sentiment is not overly pessimistic.

BTC-0.47%

ETH-0.41%

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LightningClicker

· 19h ago

Is the 92k level really holding? Feels risky. --- 120,000 ETH options, quite a few are bearish this time, be careful. --- Put Call Ratio 1.39... the market is really scared. --- $2.3 billion in notional value, expiration dates always the most exciting part. --- ETH being cautious compared to BTC? That means someone is already pulling out. --- If the 3200 support level breaks, ETH could be in trouble. --- Bearish sentiment is dominant but not overly pessimistic; this feeling is the most annoying. --- What are the big players betting on in options? I can't understand this data. --- It's another scenario of slight bearish bias with the potential to skyrocket in the end. --- Isn't 92,000 the support? Why are so many people bearish?

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RugPullSurvivor

· 19h ago

It's that time of expiration again, are everyone damn bearish? Why do I feel like it's always like this? Just be bearish if you want, anyway my coins can't run away. Can we hold the 92,000 level? Feels a bit uncertain. ETH doesn't seem as pessimistic as BTC, is that a good thing? Options expiration every day, there's never a moment of peace.

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DataOnlooker

· 19h ago

92,000 can't be broken, feels like institutions are tugging and pulling --- Is the ETH ratio a bit too tight? Is 3200 really a psychological price? --- $2.3 billion in nominal value... Will this expiration cause a dump? --- The bearish sentiment is coming, I need to check my stop-loss --- So, will the market today move towards 92,000 or crash downward? --- Institutions are setting up defenses at 92,000, interesting --- ETH is much heavier than BTC, this signal doesn't seem right --- Rounding to the nearest whole number means it's probably going to fall --- On options expiration day, don't look at the K-line, it's all manipulation by the big players --- The 1.39 ratio is indeed somewhat bearish, but not overly exaggerated

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OnchainFortuneTeller

· 20h ago

You can't push down 92,000, can you? The $2.3 billion volume can handle it.

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PermabullPete

· 20h ago

92,000 seems like it's about to trigger a big move... with a notional value of $2.3 billion hanging there. ETH doesn't seem as nervous? That's interesting. Is it really going to break below 92? I'm still betting on a rebound. 120,000 ETH options... that number is indeed scary, but a 1.04 ratio isn't too pessimistic either. With the bearish sentiment prevailing, isn't that a signal to buy the dip?

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