21,000 BTC Options Expire, Triggering Market Volatility with $90K Max Pain Point
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 10 2026- Options Expiry Impact: On January 9, the expiration of 21,000 Bitcoin options and 126,000 Ethereum options, with a notional value of $1.9 billion, highlighted significant market volatility, particularly with Bitcoin's max pain point at $90,000, potentially leading to short-term market adjustments.
- Increased Market Volatility: The put-call ratio of 1.07 for this options expiry indicates heightened expectations of price fluctuations among market participants, which may prompt large institutional investors to adjust their market positioning in response to anticipated volatility.
- Historical Patterns Reemerge: Options expirations typically trigger short-term market adjustments, and historical data suggests that traders often roll their positions at expiry, thereby enhancing market liquidity and exacerbating volatility, reflecting the market's sensitivity to future economic developments.
- Investor Sentiment Influence: With the expiration of 21,000 Bitcoin options, there is increased attention on major cryptocurrencies, and investor sentiment along with economic developments will play a crucial role in shaping future market movements, potentially resulting in a fluctuating trading environment.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
