$6B in Bitcoin, Ethereum, and XRP options expire today, with Matrixport predicting range-bound market moves amid CPI data and Fed decisions.
Crypto markets are preparing for potential volatility today as $6 billion in Bitcoin, Ethereum, and XRP options expire.
The expiry coincides with two key events: the release of the US CPI inflation data and upcoming Federal Reserve decisions. Matrixport has predicted that these factors may lead to a range-bound market in the short term.
As a result, traders are on edge, expecting limited price movement in the near future.
Bitcoin Options Expiry and Market Sentiment
Bitcoin faces a major expiry today, with $5.1 billion worth of options set to expire on Deribit.
The max pain price for Bitcoin is $113,000, which is higher than the current price of around $111,400. This suggests that there is a chance for Bitcoin to reclaim support above the $112,000 level. However, market sentiment remains cautious despite this.
The put-call ratio for Bitcoin has risen to 1.12, signaling that traders are hedging against potential downside risks. While Bitcoin could see some upward movement, the market is uncertain about the direction.
Bitcoin has also been struggling to break above its 21-week moving average for two weeks, indicating a period of consolidation. This suggests that Bitcoin’s price action may remain range-bound in the short term.
Ethereum and XRP Options Expiry
Ethereum options also face a significant expiry today. Approximately $0.79 billion in Ethereum options are set to expire, with the max pain price near $3,975. This level is close to Ethereum’s current market price, indicating neutral market sentiment.
The put-call ratio for Ethereum is 0.79, slightly bullish, but the rise in put volumes suggests some hedging against downside risks.
XRP is also experiencing its own options expiry today, with $4.33 million in options set to expire. The max pain price for XRP is at $2.50, indicating a slight upward bias. However, the market remains under selling pressure due to concerns over inflation and upcoming macroeconomic events.
Traders are closely monitoring these factors as they could influence XRP’s price movement.
Market Outlook: Range-Bound Price Action
Matrixport suggests that the market is likely to remain range-bound in the near term. Despite some support from stable liquidity and macroeconomic factors, Bitcoin continues to trade below its 21-week moving average.
This technical barrier suggests a shift from a bullish phase to consolidation. Bitcoin’s price has failed to break above this moving average for two weeks, reinforcing the expectation of limited price movement.
📃#MatrixOnTarget Report – October 24, 2025 ⬇️
Bitcoin Bull Market Paused? Or a Deeper Correction Waiting?#Matrixport #Bitcoin #BTC #Consolidation #21WMA #OpenInterest #OnChain #RiskManagement #Macro #BondYields #Options #Skew pic.twitter.com/IzpNgyKwmI
— Matrixport Official (@Matrixport_EN) October 24, 2025
The decline in open interest and the realization of profits by long-term holders are also contributing to market weakness. These factors signal that the market may need more time to recover.
Matrixport predicts that Bitcoin and other major cryptocurrencies will likely trade within a narrow range until more clarity emerges. Traders are advised to remain cautious as the market navigates through this uncertain period.