Bitcoin: 23,000 Options Expire at $62K Max Pain

Bitcoin saw 23,000 options expire on July 10 with a 0.97 put-call ratio, $62,000 maximum pain and $1.5 billion notional value while ETH recorded 140,000 expirations at a 1.26 put-call ratio, $1,700 max pain and $250 million notional.

Institutions sold short-term out-of-the-money calls in size, signaling consensus that upward momentum remains absent as BTC stayed range-bound above 60K with only 7 percent of total open interest rolling off.

Price action at $64205.23 sits inside Bollinger Bands with upper resistance at $64467.3 and lower support at $61631.93; the 50-EMA at $62634.99 and 200-EMA at $63980.13 both act as concrete support while MACD golden cross at 290.07 keeps the broader structure bullish, yet neutral RSI at 62.93 suggests any test of the upper band will likely produce a healthy retracement toward the 50-EMA before continuation.