Bitcoin options worth over $9.4 billion are scheduled to expire on the Deribit cryptocurrency exchange on March 29. Some analysts believe that Bitcoin's "max pain" price could be around $50,000.

More than 134,000 BTC in open interest will expire on the Deribit exchange at 8 am UTC on Friday. Data from Unfolded suggests a max pain price of $50,000. The max pain price is the strike price with the most open Bitcoin options contracts, causing the most financial loss for most option holders at expiration.

Potential inflows in spot Bitcoin exchange-traded funds (ETFs) slowing down might lead to a correction in Bitcoin price to the $51,000 mark, as suggested by Ki Young Ju, the founder and CEO of CryptoQuant.

Bitcoin Correction and Price Outlook

The recent price correction of Bitcoin aligns with historical patterns before halving events, noted by Rekt Capital. Flipping the old all-time high of $69,000 into support could propel Bitcoin price to new all-time highs, according to a video analysis by Rekt Capital.

Based on analysis by Bitfinex, Bitcoin's price correction last week indicates that the price may have formed a local bottom or is nearing that point.