价值 $2.29B 的比特币和以太坊期权合约今日到期，应对市场波动

加密货币市场价值 22.9 亿美元的比特币和以太坊期权合约将于今天到期。此次大规模到期可能会影响短期价格走势。

Bitcoin and Ethereum options contracts valued at $2.29 billion will expire today, potentially impacting short-term price movements, especially given the recent decline in both assets.

价值 22.9 亿美元的比特币和以太坊期权合约将于今天到期，可能会影响短期价格走势，特别是考虑到这两种资产最近都在下跌。

As of Friday, Deribit data shows 28,125 Bitcoin options contracts expiring, while 137,866 Ethereum options contracts are set to expire.

截至周五，Deribit 数据显示 28,125 份比特币期权合约即将到期，而 137,866 份以太坊期权合约即将到期。

These expiring Bitcoin options have a maximum pain price of $69,000 and a put-to-call ratio of 0.92. With the Put-to-call ratio below 1, traders can expect a generally bullish sentiment despite BTC’s 4% drop in the last seven days.

这些即将到期的比特币期权的最高痛苦价格为 69,000 美元，看跌期权与看涨期权比率为 0.92。由于看跌期权与看涨期权比率低于 1，尽管 BTC 在过去 7 天内下跌了 4%，但交易者可以预期普遍看涨情绪。

In comparison, their Ethereum counterparts have a maximum pain price of $2,550 and a put-to-call ratio of 0.69, reflecting a similar market outlook.

相比之下，以太坊同类产品的最高痛苦价格为 2,550 美元，看跌期权与看涨期权比率为 0.69，反映了类似的市场前景。

Recent price declines and external factors, such as the upcoming US elections, have led to a slight uptick in implied volatility (IV), according to Greek.live analysts. They observe, however, that BTC’s max pain point is at a yearly high, with very good trading opportunities now available in the market.

Greek.live 分析师表示，近期价格下跌和外部因素（例如即将到来的美国大选）导致隐含波动率 (IV) 略有上升。然而，他们观察到，比特币的最大痛点处于年度高点，目前市场上存在非常好的交易机会。

“Bitcoin hit $73,500 this week, just $100 away from a new all-time high, but then went into high gear, back below $70,000. Maxpain point reached a new high for the year this week, while Ether instead struggled near a new low for the year, and Maxpain point also fell this week,” analysts said.

“比特币本周触及 73,500 美元，距离历史新高仅 100 美元，但随后又回到了 70,000 美元下方。 Maxpain点本周触及年内新高，而以太币则在年内新低附近挣扎，Maxpain点本周也有所下跌，”分析师表示。

“The main market thread this week is the US election, and now that the BTC ATM IV on 8 November is close to 70%, and BTC is oscillating near new highs, there are very good trading opportunities in all views.”

“本周市场主线是美国大选，目前11月8日BTC ATM IV已经接近70%，且BTC在新高附近震荡，各方面都存在非常好的交易机会。”

According to BeInCrypto data, Bitcoin is currently trading at $69,268, while Ethereum is at $2,503. This places BTC above its max pain point, while ETH remains below it.

根据 BeInCrypto 数据，比特币目前交易价格为 69,268 美元，而以太坊交易价格为 2,503 美元。这使得 BTC 高于其最大痛点，而 ETH 仍低于其最大痛点。

The Max Pain theory suggests that options prices tend to converge toward strike prices with the highest concentration of contracts set to expire worthless, known as max pain points.

最大痛苦理论表明，期权价格往往会趋向于执行价格，其中最集中的合约将到期而毫无价值，称为最大痛苦点。

For Bitcoin, this implies a potential pullback toward its $69,000 max pain point, likely sparking short-term market volatility. While options expirations often cause temporary price swings, markets generally stabilize soon afterward.

对于比特币来说，这意味着比特币可能会回调至 69,000 美元的最大痛点，可能会引发短期市场波动。虽然期权到期通常会导致价格暂时波动，但市场通常会很快稳定下来。

With today’s high-volume expiration, traders should anticipate similar fluctuations that may shape short-term crypto trends. Price pressure on BTC and ETH will ease after Deribit settles contracts at 08:00 UTC on Friday.

随着今天的大量到期，交易者应该预计类似的波动可能会影响短期加密货币趋势。 Deribit 在周五 08:00 UTC 结算合约后，BTC 和 ETH 的价格压力将有所缓解。

Markets should also brace for volatility due to today’s nonfarm payrolls (NFP) on the first Friday of November. This US macro data, coupled with the US elections on Tuesday, could also set the next trend.

由于今天 11 月第一个周五的非农就业数据 (NFP)，市场也应该做好准备应对波动。美国宏观数据，加上周二的美国大选，也可能决定下一个趋势。

“We have NFP tomorrow and the US election next week, so do not force any trades until then. Watch the market, and only take clear A+ setups – anything less is not worth it anyway,” a trader on X wrote.

“明天将公布非农就业数据，下周将举行美国大选，因此在此之前不要强制进行任何交易。观察市场，只采取明确的 A+ 设置——任何低于这一点的设置都是不值得的，”X 上的一位交易员写道。