Over 26,000 Bitcoin options contracts will expire, with a notable value of around 2.5 billion USD. The put/call ratio is 0.58, indicating more demand for long positions as the market awaits the implications of these expirations.
The total cryptocurrency market capitalization has seen a decline of nearly 2% to 3.3 trillion USD, reflecting bearish sentiment as Bitcoin dipped under 96,000 USD and Ethereum fell below 2,700 USD.
In a broader downtrend for altcoins, Tron (TRX) has emerged as a standout performer with a gain of 4.5%, contrasting with the struggles faced by most other cryptocurrencies.
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