A July 17 crypto options expiry involved about $1.45 billion in Bitcoin and Ether contracts rolling off at 16:00, a derivatives event that can affect short-term price action as traders hedge or unwind positions. Deribit data put the total at about $1.23 billion in BTC options and about $218 million in ETH options, while Greeks.live said 19,000 BTC options and 123,000 ETH options expired with about $1.2 billion and about $230 million in notional value, respectively. Bitcoin's put/call ratio was reported at 0.86 to 0.9 with a max pain point of $62,500 to $63,000, while Ether's was 1.54 to 1.61 with a max pain point of $1,750 to $1,800, indicating relatively firmer sentiment in Bitcoin and more defensive positioning in Ethereum.