Bitcoin and Ethereum Face $2.6B Options Expiry With Max Pain at $69K BTC, $1,950 ETH

Around $2.6 billion in Bitcoin and Ethereum options contracts expire on March 6, with Bitcoin accounting for roughly $2.2 billion across 31,700 contracts and a max pain level of $69,000—slightly below the spot price above $70,000—while Ethereum sees about 184,000 options worth nearly $380 million expiring at a max pain price around $1,950, CoinGlass and TradingView data show. Deribit data cited by zBit show concentrated open interest at the $60,000 strike for BTC, and CoinGlass reports a Bitcoin put/call ratio of 1.7 into the 08:00 UTC settlement, indicating bearish positioning, versus Ethereum's 0.85 ratio suggesting a more balanced yet slightly bullish stance, according to GreeksLive. GreeksLive notes that 32,000 BTC options with a 1.69 put/call ratio and 184,000 ETH options with a 0.85 ratio have reached expiry, as analysts debate whether this event precedes a relief rally toward $75,000 BTC and $2,200 ETH or a short-term corrective phase.