Bitcoin and altcoins experienced a major crash in the last week of September, with BTC plummeting to $111,000 and ETH dipping below $4,000. While this bearish atmosphere in the market is expected to dissipate with the arrival of October, which is historically known as the month of rise, tomorrow is the expiration date for option contracts in the crypto market, as is the case every Friday. These options are more important because they fall on the last Friday of both the week and the month. According to data for the fourth week of September, $17.06 billion worth of Bitcoin (BTC) and $5.2 billion worth of Ethereum (ETH) options will expire on September 26 on the Deribit derivatives exchange. According to Deribit data, the Put/Call Ratio of BTC options is 0.76, the maximum loss point is $110,000 and the notional value is $17.06 billion. When we look at Ethereum, ETH options have a 0.8 Put/Call Ratio, a maximum loss point of $3,800, and a notional value of $5.2 billion. Deribit added that tomorrow's option expiry is the largest expiry of the third quarter. Looking at the put/call ratio, we see that it's 0.76 for Bitcoin and 0.8 for ETH. These ratios indicate a cautious but optimistic outlook in the market, with more buy orders than sell orders and a bullish outlook among options traders. The maximum pain point is the level at which the cryptocurrency price settles at a certain value as an option approaches its expiration date, resulting in significant losses for the largest number of option traders. At this point, with a total of $22.2 billion in BTC and ETH options expiring on September 26, volatility is expected and both Bitcoin and Ethereum prices are likely to be pulled towards their respective maximum pain levels. Options Expiry Alert At 08:00 UTC tomorrow, over $22.3B in crypto options expire on Deribit; one of the biggest quarter-end expiries. $BTC : Notional: $17.06B | Put/Call: 0.76 | Max Pain: $110K $ETH : Notional: $5.20B | Put/Call: 0.80 | Max Pain: $3,800 Q3’s largest… pic.twitter.com/FDT1tWomYH — Deribit (@DeribitOfficial) September 25, 2025 *This is not investment advice. Continue Reading: The Tense Wait for $22 Billion in Bitcoin and Ethereum! How Will It Affect the Prices of BTC and ETH? Here's Everything You Need to Know…
