Here’s What Bitcoin, ETH, XRP, SOL Max Pain Price Reveals About Upcoming Direction

Crypto traders are seeking cues on how the crypto market will unfold in the coming days, as uncertainty and thin liquidity persist. Investors are closely watching the max pain price levels for Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) as $2.2 billion in crypto options expire today. In addition, rising long-term Treasury yields and gold prices exert further selling pressure on Bitcoin price.

$1.85 Bitcoin Options to Expire Today

Almost 21K BTC options with a notional value of $1.85 billion are set to expire on the largest derivatives crypto exchange Deribit on January 2. The put-call ratio of 0.48 indicates bullish sentiment among traders. However, this marks one of the lowest BTC options expiries in terms of notional value amid thin liquidity in the crypto market.

Bitcoin max pain price is at $88,000, slightly below the current market price of $88,870. Deribit revealed heavy puts positioning around the $80,000 – $87,000 strike price, with bearish bias massively less above the $89,000 strike price.

However, most traders are betting on Bitcoin price to hold near $88K in the coming days. The max pain price level often indicates the potential direction for price action as expiration dates approach. Also, there is a CME gap near the $88,000 level. BTC will continue to move range-bound until it breaks above $90,000.

Ethereum Max Pain Price Signals Rebound Above $3,000

Over 129K ETH options with a notional value of $400 million are set to expire on Deribit, with a put-call ratio of 0.62. This signals bullish sentiment among traders, with call volume almost doubling put volume over the past 24 hours.

Moreover, the max pain price is at $2,950, below the current market price of $3,018 at the time of writing. Notably, $2950 strike price has higher calls, with positioning around $3,000. Traders expect ETH price to hold above $3,000 next week.

Crypto analyst Ted Pillows pointed out that Ethereum price has successfully held above the $3,000 level. Bulls need a hold daily close above this zone for upward continuation. However, if ETH price dumps below the $3,000 level again, the sideways momentum will continue.

XRP and Solana (SOL) Max Pain Price

XRP options in millions to expire today, with a put-call ratio of 0.78. The max pain price is at $1.90, indicating the key level to watch amid uncertainty in the broader crypto market.

In the last 24 hours, the call volume was 851k as compared to a put volume of 376k. The put-call ratio is 0.44, indicating a bullish sentiment among traders. However, exchange inflows into Binance and South Korean crypto exchanges have increased in the past few weeks.

XRP price climbed more than 3% to $1.88, moving in line with max pain price despite thin liquidity. It saw intraday lows of $1.84 and highs of $1.89, with a 29% drop in trading volume over the past 24 hours.

Moreover, crypto analyst Ali Martinez highlighted that TD Sequential has flashed a macro buy signal on XRP bi-weekly chart. The price could rebound amid support from the XRP army.

Meanwhile, Solana options worth a million will expire today, with a put-call ratio of 0.52. The max pain price is at $124, below the current market price. Traders could trigger a selloff towards the max pain price as put volume surged over the last 24 hours.

SOL price is trading almost 2% higher in the last 24 hours, with a 24-hour low and high of $124.22 and $127.72, respectively. Trading volume has plunged 22% over the last 24 hours, indicating a lack of interest.