May 29 expirations included 84,000 BTC and 639,000 ETH options with put-call ratios below 1 and key price levels at $75,000 and $2,200.
A total of 84,000 BTC options expired on May 29, carrying a notional value of $6.2 billion and a max pain point of $75,000. The put-call ratio stood at 0.88, signaling relatively higher call interest. Meanwhile, 639,000 ETH options expired with a notional value of $1.28 billion and a max pain point of $2,200, with a put-call ratio of 0.81.
Open interest for June options now represents about 40% of the total, according to market data. Sentiment remains subdued as prices linger below critical levels, reflecting weak risk appetite. The expirations follow a period of volatility in crypto markets, with traders closely watching key support and resistance zones.
The max pain points—where the largest number of options would expire worthless—highlight areas of potential price pressure. Both BTC and ETH have struggled to sustain momentum above these thresholds in recent sessions.