Massive quarterly options expiries are set to rock the Bitcoin and Ethereum market.

Despite starting the week well, Bitcoin and the broader crypto market are back in the red. While one likely reason for this is uncertainty sparked by new tariffs from President Donald Trump

The cryptocurrency market is set for a turbulent Friday, March 28, as massive options expiries loom large, potentially impacting the prices of Bitcoin (BTC) and Ethereum (ETH).

According to data from options trading service firm Greeks.live, over $14 billion worth of Bitcoin and Ethereum options are set to expire today. This includes 139,000 BTC options worth $12.1 billion and 301,000 ETH options worth $2.13 billion with put-call ratios of 0.49 and 0.39, respectively, and max pain points of $85,000 and $2,400, respectively.

This week’s expiry comes as this is the quarterly delivery week when quarterly options expire. Typically, price tends to move to the max pain point towards options expiry as market makers try to maximize profit.

As the chart shows, Bitcoin’s price has dropped 3% on the day and is now hovering over the $85,000 price point, which is also the max pain point for BTC options.

This rule of thumb suggests that we could be seeing a surge in Ethereum’s price to $2,400 later today as the max pain point for ETH options is $2,400. However, with Bitcoin’s price dropping and the broader market sentiment souring, it remains to be seen whether we will see such a move.

At the time of writing, Ethereum is trading 6% lower at around $1,900.

Looking ahead, Greeks.live noted that selling is becoming more widespread in the market as crypto assets continue to lack fresh catalysts that could mark the end of the Q1 correction. As a result, the platform warned that buyers may face a tough time in Q2.