BTC: 25,600 Options Expire as Price Hits $60K

BTC options expiration data for June 5 reveals 25,600 contracts with a 0.56 put-call ratio and $1.62 billion notional value clustered around the $70,500 pain point, while 155,000 ETH contracts worth $270 million sit at the $2,000 level with a 0.92 ratio. Bitcoin briefly touched $60,000 this week, pushing both assets well below those maximum-pain strikes and leaving only 6 percent of open interest to settle as traders fixated on U.S. equities instead. GEX now concentrates between $60,000 and $63,000 with pronounced negative skew, and BTC implied volatility has only recovered to 40 percent after last month’s expiration. On the 4h chart BTC trades at $62,916.41 beneath the EMA50 at $69,308 and EMA200 at $74,569, RSI at 27.07 signals deep oversold conditions while MACD prints a clear death cross at -2,295; price remains inside the Bollinger band yet the lower band at $60,806 offers the next volatility exhaustion target, suggesting any stabilization will first require a test of that floor before fresh capital returns. Hedging demand has risen without large directional bets on further collapse, leaving the market focused on whether inflows resume before the next options cycle.