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Bitcoin and Ethereum Options Expiry Triggers Market Volatility

The crypto market is experiencing heightened activity following the expiry of major Bitcoin and Ethereum options contracts. The expiry of $2.63 billion worth of options has triggered volatility, with both assets trading below key levels.

Key Highlights:

1. _Options Expiry_: 21,000 BTC options expired with a notional value of $2.04 billion, while 173,000 ETH options expired with a notional value of $590 million.
2. _Max Pain Points_: Bitcoin's max pain point was $101,000, while Ethereum's was $3,750. Both assets are currently trading below these levels.
3. _Market Declines_: Bitcoin has fallen by 6.41% in the past 24 hours, while Ethereum has lost 10.50%.
4. _Increased ETF Outflows_: ETFs are seeing heightened outflows, contributing to market movements.
5. _Options Activity_: Market makers have adjusted positions to align with the high volume of expiring options, with block call options accounting for over 30% of daily trading.