{"id":34110,"date":"2026-07-10T14:56:50","date_gmt":"2026-07-10T14:56:50","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-faces-62k-max-pain-as-1-75b-crypto-options-expire\/"},"modified":"2026-07-10T14:57:06","modified_gmt":"2026-07-10T14:57:06","slug":"bitcoin-faces-62k-max-pain-as-1-75b-crypto-options-expire","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-faces-62k-max-pain-as-1-75b-crypto-options-expire\/","title":{"rendered":"Bitcoin faces $62K max pain as $1.75B crypto options expire"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin and Ethereum options worth about $1.75 billion expired on July 10 as traders maintained a cautious view of the crypto market.<\/p>\n<div id=\"cn-block-summary-block_b4492f9981bc95371f9886971523bd56\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin options worth $1.5 billion expired as traders watched the key $62,000 maximum pain level.<\/li>\n<li>Ethereum\u2019s 1.26 put-call ratio reflected unusually high demand for downside protection during the weekly expiry.<\/li>\n<li>Institutional traders sold short-term calls, suggesting limited confidence in a sustained crypto market rally ahead.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data shared by Greeks.live, about 23,000 Bitcoin options expired with a notional value of $1.5 billion. The contracts had a put-call ratio of 0.97 and a maximum pain level of $62,000.<\/p>\n<p>Meanwhile, 140,000 Ethereum options expired with a notional value of $250 million. The ETH contracts carried a put-call ratio of 1.26 and a maximum pain level of $1,700.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Bitcoin options traders limit short-term upside<\/strong><\/h2>\n<p>Bitcoin remained above $60,000 for most of the week and briefly reached $64,000 during Asian trading on Friday. The price later stayed close to a resistance area between $64,000 and $64,500.<\/p>\n<p>The weekly expiry covered about 7% of outstanding options, making it smaller than recent monthly and quarterly settlements. Therefore, the contracts alone were unlikely to cause a lasting move in the spot market.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">July 10 Options Data<\/p>\n<p>23,000 BTC options expired, with a put-call ratio of 0.97, a maximum pain point of $62,000, and a notional value of $1.5 billion.<br \/>140,000 ETH options expired, with a put-call ratio of 1.26, a maximum pain point of $1,700, and a notional value of $250\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/6sx0FWNJMF\">pic.twitter.com\/6sx0FWNJMF<\/a><\/p>\n<p>\u2014 Greeks.live (@GreeksLive) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/GreeksLive\/status\/2075489240713228787?ref_src=twsrc%5Etfw\">July 10, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Bitcoin\u2019s gamma exposure was concentrated near $64,000. A large number of call options also accumulated around that level, which may affect dealer hedging as the price moves through the strike.<\/p>\n<p>However, Greeks.live said large call trades increased during the week because traders sold short-term calls slightly above the market price. This strategy generates income when traders expect an asset to remain flat or fail to rise beyond a selected strike.<\/p>\n<p>The activity suggested that institutional traders had doubts about Bitcoin\u2019s near-term upward momentum. Still, the 0.97 put-call ratio showed that the total number of puts and calls in the expiry remained nearly balanced.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Options skew retains downside bias<\/strong><\/h2>\n<p>In a separate options market update, Greeks.live said Bitcoin\u2019s 25-delta skew had stabilized after a sharp repricing during June.<\/p>\n<p>The one-day, seven-day and one-month readings stood at -6.4%, -6.7% and -7%, respectively. Negative skew means traders are paying more for downside protection than for similar bullish positions.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BTC&#8217;s 25 delta skew has stabilized across the curve following the sharp repricing observed through June, although downside protection continues to command a premium across all major maturities. Current readings stand at -6.4% (1D), -6.7% (7D), and -7.0% (1M), indicating that\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/An1c7KyrgY\">pic.twitter.com\/An1c7KyrgY<\/a><\/p>\n<p>\u2014 Greeks.live (@GreeksLive) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/GreeksLive\/status\/2074492333391847856?ref_src=twsrc%5Etfw\">July 7, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>\u201cPuts continue to trade at a premium to calls across all major expirations,\u201d the firm said.\u00a0<\/p>\n<p>However, it added that the size of that premium had become more uniform across different contract periods.<\/p>\n<p>The data showed that defensive demand was no longer concentrated only in contracts close to expiry. Medium-term options also accounted for a larger part of the downside premium.<\/p>\n<p>Greeks.live described the setup as a \u201cmore normalized term structure\u201d but said options pricing retained \u201ca persistent downside bias.\u201d The statement reflects current positioning and does not guarantee that Bitcoin will decline.<\/p>\n<p>The July 3 expiry also showed demand for short-term downside protection. That event involved $1.9 billion in BTC options, with maximum pain at $61,000.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum puts remain unusually elevated<\/strong><\/h2>\n<p>Ethereum\u2019s put-call ratio reached 1.26, meaning put options outnumbered calls in the weekly batch. The ratio remained high for a second consecutive week after reaching 1.29 during the previous expiry.<\/p>\n<p>Greeks.live linked much of that activity to protective positions with strike prices below $1,500. These puts were deeply out of the money as expiry approached, but they showed that some traders had hedged against a sharper ETH decline.<\/p>\n<p>Ethereum gamma exposure was concentrated near $1,750, with call accumulation also visible around the level. However, ETH remained below the $1,700 maximum pain area during parts of the settlement period.<\/p>\n<p>Ether traders showed heavier put demand during the July 3 expiry. The earlier batch included 135,000 ETH contracts with a 1.29 put-call ratio and maximum pain at $1,650.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Broader markets keep crypto activity subdued<\/strong><\/h2>\n<p>The options expiry followed a week of mixed price action across crypto and traditional markets. U.S. and South Korean equities also faced corrections, while traders assessed interest-rate policy and geopolitical risks.<\/p>\n<p>As reported by crypto.news,Bitcoin recently lost the $64,000 level after a hawkish Federal Reserve decision. The change in rate expectations reduced demand for several risk assets.<\/p>\n<p>Open interest remained large despite the smaller weekly expiry. Bitcoin options open interest across exchanges stood near $28.7 billion, while Ethereum options open interest was about $4.4 billion.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and Ethereum options worth about $1.75 billion expired on July 10 as traders maintained a cautious view of the crypto market. Summary Bitcoin options worth $1.5 billion expired as&hellip;<\/p>\n","protected":false},"author":1,"featured_media":34111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-34110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=34110"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34110\/revisions"}],"predecessor-version":[{"id":34112,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34110\/revisions\/34112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/34111"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=34110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=34110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=34110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}