<![CDATA[<figure class="image"><img src="https://cimg.co/news/126089/332926/bitcoin.jpeg" srcset="https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_1280_853.jpeg 1280w, https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_1200_800.jpeg 1200w, https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_900_600.jpeg 900w, https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_720_480.jpeg 720w, https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_600_400.jpeg 600w, https://cimg.co/news/126089/332926/responsive-images/bitcoin___media_library_original_300_200.jpeg 300w" width="1280" class="content-img" alt=""><figcaption>Source: Adobe / Luisa</figcaption></figure>As crypto markets remain relatively stagnant, attention is turning to the impact of a significant <a href="https://cryptonews.com/coins/bitcoin/">Bitcoin (BTC)</a> options expiry event set to occur on October 6.Approximately 14,000 Bitcoin options contracts, with a total notional value of around $400 million, are set to expire that day, though this event is notably smaller than last week's expiry.The "max pain" point for these options contracts is $27,000, which is approximately $700 below Bitcoin's current spot price.The max pain point represents the price level at which most open contracts exist and where most losses occur when contracts expire.<h2 id="balanced-put-call-ratio">Balanced put/call ratio</h2>The put/call ratio for these options stands at 0.89, indicating a relatively balanced distribution between sellers of long and short positions.A put option is a bet that the price of an asset will fall, while a call option is a bet that the price will rise.Bitcoin's price trend for the week has been upward, with holiday-related factors contributing to lower trading volumes during Asian hours.Analysts note that October &ndash; as well as the fourth quarter as a whole &ndash; have <a href="https://cryptonews.com/news/bitfinex-analysts-bitcoins-september-surge-signals-potential-bullish-october.htm">historically seen uptrends in the crypto market</a>.However, positioning by traders in bearish put options remains significant, and liquidity has been decreasing recently, leading to speculation that a major market movement &ndash; potentially to the downside &ndash; could occur in October.In addition to Bitcoin options, around 200,000 <a href="https://cryptonews.com/coins/ethereum/">Ether (ETH)</a> options contracts, with a notional value of $330 million, are also set to expire on October 6.These Ether options have a similar put/call ratio of 0.87 to that of Bitcoin.Despite the options expiry, the impact on spot markets remains uncertain, with the event often passing without any significant impact.Bitcoin has experienced a 3% retracement from its recent spike to $28,500, and is currently trading around $27,700.Ether has seen a 6.6% decrease since its Monday peak, with a current price of $1,630.<figure class="image"><img src="https://cimg.co/news/126089/332925/bitcoin-price-year-to-date.jpg" srcset="https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_2224_1286.jpg 2224w, https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_1200_694.jpg 1200w, https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_900_520.jpg 900w, https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_720_416.jpg 720w, https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_600_347.jpg 600w, https://cimg.co/news/126089/332925/responsive-images/bitcoin-price-year-to-date___media_library_original_300_173.jpg 300w" width="2224" class="content-img" alt=""><figcaption>Bitcoin price year-to-date. Source: CoinGecko</figcaption></figure>
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$400 Million Bitcoin Options Expiry: Will It Impact the Recent Rally?

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