$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 gearing up for a day of potential volatility, with a staggering $6 billion worth of options for Bitcoin, Ethereum, and XRP set to expire today. This considerable expiry coincides with two critical events: the release of the U.S. Consumer Price Index (CPI) inflation data and upcoming decisions from the Federal Reserve. According to predictions from Matrixport, these factors could lead to a somewhat range-bound market in the short term. As a result, traders are on high alert, anticipating limited price movement in the immediate future.
Bitcoin Options Expiry and Market Sentiment
Bitcoin is at the center of today’s market dynamics, facing the expiry of approximately $5.1 billion worth of options on Deribit. The max pain price, which represents the point where the maximum number of options expire worthless, is set at $113,000—significantly higher than Bitcoin’s current trading price of around $111,400. This implies a potential for Bitcoin to reclaim support above the $112,000 threshold.
Nevertheless, market sentiment remains cautious. The put-call ratio for Bitcoin has increased to 1.12, indicating that traders are actively hedging against potential downturns. Although there is a chance for some upward movement, uncertainties about market direction linger. Bitcoin has also struggled to break through its 21-week moving average for the past two weeks, a technical indicator signaling consolidation. This struggle suggests that Bitcoin’s price action is likely to stay within a defined range in the near term.
Ethereum and XRP Options Expiry
Ethereum is also facing a significant options expiry today, with about $0.79 billion in options set to expire. The max pain price for Ethereum is situated near $3,975, which is closely aligned with its current market price, indicating a neutral market sentiment. The put-call ratio for Ethereum stands at 0.79, which leans slightly bullish; however, an increase in put volumes reflects some caution among traders, as they hedge against possible losses.
Meanwhile, XRP has $4.33 million worth of options that are expiring today. The max pain price for XRP is at $2.50, suggesting a slight upward bias. Yet, like Bitcoin and Ethereum, XRP is also facing selling pressure, largely due to concerns surrounding inflation and significant macroeconomic events. Traders are meticulously monitoring indicators that might affect XRP’s price movement.
Market Outlook: Range-Bound Price Action
Matrixport’s assessment suggests that the cryptocurrency market is poised to remain range-bound in the short run. Despite being buoyed by stable liquidity and various macroeconomic factors, Bitcoin continues to trade beneath its 21-week moving average. This technical barrier indicates a transition from a bullish phase to one of consolidation, further reinforced by Bitcoin’s recent failure to exceed this moving average for two consecutive weeks.
#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, coupled with profit-taking behavior among long-term holders, adds further weight to the prevailing market weakness. This situation suggests that the cryptocurrency landscape may require additional time to stabilize and regain momentum. Matrixport’s forecast indicates that Bitcoin and other prominent cryptocurrencies may continue to fluctuate within a narrow range until clearer signals emerge from market data and economic indicators. Therefore, traders should approach this uncertain phase with caution.
