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The cryptocurrency market witnessed one of the largest option expiration dates in history.

According to data provided by the option data provider Greeks.live, today saw the expiration of a massive amount of options contracts.

The data revealed that 35,000 Bitcoin options with a conceptual value of 9.5 billion dollars expired with a 0.85 Put Call Ratio and a maximum pain level of 51,000 dollars.

Additionally, 1.58 million ETH options with a conceptual value of 5.6 billion dollars expired with a 0.63 Put Call Ratio and a maximum pain level of 2,600 dollars.

These options, with a total value of approximately 15 billion dollars, marked the largest expiration in the history of cryptocurrency. The majority of these options were oriented towards the short side, indicating institutional investors’ failed bearish expectations.

Since option markets are an area where institutional investors trade rather than individual investors, they reflect the market expectations of these actors.

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