A majority of bitcoin options contracts worth $2.26 billion are set to expire on May 26, with a maximum pain point of $27,000. The Put/Call Ratio for this batch of bitcoin options is 0.38, indicating a bullish sentiment among derivatives traders. Similarly, 695,000 Ethereum options contracts worth $1.25 billion are also set to expire, with a PCR of 0.49 in favor of Call contracts. While the bitcoin price hit a ten-week low below $26,000, it recovered to $26,423 during the Asian trading session on Friday morning. However, a breakdown from the key long-term Fibonacci level of support at $26,200 could lead to a slide as low as $24,400 if selling pressure continues.
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Bitcoin Options Contracts Set to Expire with Bullish Outlook for Traders
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