According to Greeks.live, 116,000 BTC options valued at $7.9 billion and 206,000 ETH options worth $980 million will expire tomorrow. The put/call ratios stand at 0.76 for Bitcoin and 0.77 for Ethereum, with max pain points at $75,000 and $2,200 respectively. Analysts highlight increasing implied volatility but note that broader sentiment remains bearish, with limited new capital entering the market ahead of expiry.