Bitcoin, altcoins stand tall despite options expiry pressure

Quick Take

• Bitcoin and Ethereum held firm on a massive options expiry on May 26, according to Deribit data.
• Over $2.2 billion worth of options expired on May 26 for Bitcoin. Despite this significant event, the currency held firm above $26,300.
• The Bitcoin put-to-call ratio was 0.38, with max pain at $27,000.
• While the options on Ethereum saw an options expiry of a notional value of $1.3 billion.
• Ethereum had a put-to-call ratio of 0.49, with a max pain price of $1,800.
• Looking ahead to June, we anticipate a notional value of over $3B in options expiry, with a max pain price of $24,000. This notional value is slightly higher than the May expiration

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