Bitcoin: 22,000 Options Expire at $84K Max Pain

Bitcoin options data revealed 22,000 contracts expired with a 1.12 put-call ratio, $84,000 maximum pain point and $1.84 billion notional value, while 123,000 ETH contracts settled at a 0.71 ratio, $2,650 pain level and $320 million notional.

Tomorrow’s expiry will clear 6% of Bitcoin open interest and 9% of Ethereum open interest as the market corrects and waits for direction, echoing the first wave of a bear market where time trades for space before consolidation ends. BTC price action at $83043.64 sits below the EMA50 at $84489.47 in a bearish structure above the EMA200 at $82173.36, with MACD at -579.18 confirming the death cross and RSI at 32.7 remaining neutral inside the Bollinger band bounded by $87229.16 resistance and $82235.1 support; this confluence points to continued compression until a decisive break resolves the range.