Bitcoin options worth $2.1 billion are set to expire today, marking a crucial moment for the market. With a put/call ratio of 0.54 and max pain at $80,000, traders will be watching for any price shifts leading into the expiry, as the contract's settlement could drive volatility. Ethereum's options expiry, valued at $420 million, also adds to the larger market reset, with its own max pain level at $2,400.