Over $3.3 billion in Bitcoin and Ethereum options are set to expire on Deribit this coming May 23rd, sparking heightened market volatility. This includes a substantial $2.76 billion in Bitcoin options with a Put/Call Ratio of 1.2 and a Max Pain Point of $103,000, significantly lower than current BTC prices. On the Ethereum side, approximately $526 million is set to expire with a similar Put/Call Ratio of 1.23 and a Max Pain Point of $2,400. Deribit anticipates further market fluctuations as Bitcoin traders aim for a price target of $300,000 while Ethereum traders hope for prices around $3,000. The release of the expiry data on May 22nd coincides with bullish sentiment driving BTC and ETH prices to new heights. Deribit’s official announcement via X has highlighted significant trading activity in Bitcoin and Ethereum options ahead of this crucial expiration date. Here’s a closer look at the market trends: 📈