On September 12, 2025, a significant number of options contracts for Ethereum and Bitcoin will expire, potentially affecting short-term price movements in the cryptocurrency space.
Highlights of the Ethereum Options Market
The Ethereum options market will see $850 million in contracts expire, with a max pain price set at $4,400. Current open interest stands at 191,805 contracts, split between 94,861 calls and 96,944 puts, reflecting a balanced Put/Call Ratio of 1.02. The highest concentration of puts sits between $4,000 and $4,200, while strong call interest emerges from $4,400 to $5,200. As Ethereum nears the max pain price, traders can expect short-term price swings.
Bearish Signals from Bitcoin and Unsettling Dynamics
Alongside Ethereum, $3.36 billion in Bitcoin options will also expire, setting a max pain price at $113,000. Despite Bitcoin trading above $110,000, bearish sentiment is growing based on CryptoQuant’s Bull Score Index, indicating that eight out of ten signals are flashing red. This suggests that Bitcoin may enter a consolidation or corrective phase if recent gains aren’t supported.
Altcoin Market and Potential Shifts
The altcoin market shows potential shifts as a weekly bullish divergence forms around the 0.014 BTC level. If this momentum holds, capital rotation from Bitcoin to altcoins could follow, potentially leading to significant market movements.
The upcoming expiries of Ethereum and Bitcoin options create uncertainty in price movements. Traders should stay alert to market signals and consider possible short-term price fluctuations.
