2026-01-16 13:40:37

January 16th is an options expiration day. On that day, 20,000 BTC options and 120,000 ETH options will expire simultaneously, which is quite a significant volume.

The data on BTC is particularly interesting — the Put/Call ratio is 1.39, indicating that there are noticeably more bearish orders. The maximum pain point is at $92,000, with a notional value of about $2.3 billion. This suggests that market participants have a strong hedging and trading interest at this price level.

ETH's situation is somewhat more balanced. The Put/Call ratio is 1.04, close to a 1:1 level, reflecting a relatively balanced force between bulls and bears. The maximum pain point is at $3,200, with a corresponding notional value of approximately $430 million.

From the data of these two expiration dates, it’s clear that market participants are more inclined toward risk hedging on BTC, while ETH shows a more diversified position structure. These data points are very useful for traders in judging short-term support and resistance levels.

BTC0,11%

ETH-0,01%

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GasFeeVictim

· 6h ago

That 92k price point was really hammered down hard, the bears are so fierce for a reason ETH doesn't look too promising, no pressure means no opportunity, just boredom Will the delivery on the 16th cause a dump? I bet 5 U With so many BTC bears, I feel reassured, reverse indicators are kicking in The biggest pain point is the most profitable area, how should I choose my side this time? Hold tight, the night before delivery is often the most bizarre time Why are there so many short positions on BTC? Feels like there's something I haven't seen ETH is balanced to this extent, but it seems untrustworthy, I always feel someone is lurking This data looks comfortable, but I trust my candlestick charts more

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MidnightMEVeater

· 6h ago

Good morning, all night creatures. The 92000 level is simply a meat grinder, with a nominal value of 2.3 billion just sitting there, waiting to see who blinks first. The BTC Put/Call ratio is so skewed, basically big players are buying insurance for their positions. I've seen this trick too many times. On the ETH side, 1.04 makes me more cautious; too balanced = too easy to be sandwich attacked.

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failed_dev_successful_ape

· 7h ago

With the short positions at 92,000 so aggressive, it seems like many longs will be liquidated on the 16th. Looking at ETH, it's surprisingly calm—it's really just BTC under pressure. Put/Call ratio of 1.39 is a bit exaggerated; does this mean a sell-off is coming? On the 16th, either break through 92k or fall below it; no one trusts the intermediate levels. The shorts are so fierce—maybe it's time to consider bottom fishing? ETH's balance is quite rare; it seems like big players are all playing BTC options. With a notional value of 2.3 billion at 92k, the pressure is really intense—can it break? Just want to know if this is bearish or hedging; it's hard to tell.

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DEXRobinHood

· 7h ago

92000 this level is really about to be hammered down, the nominal value of 2.3 billion indicates the market is holding back a big move With such a strong bearish sentiment on BTC, January 16th might see bloodshed ETH, on the other hand, is much steadier, and this difference is quite interesting

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ETHmaxi_NoFilter

· 7h ago

The painful price point at 92k feels like institutions are betting heavily here. With so many short positions, yet no breakdown, it's quite interesting. ETH, on the other hand, seems very laid-back; neither bulls nor bears are in a rush. Is this the treatment mainstream coins get? There might be volatility around the delivery date on the 16th, but I think the real support still depends on fundamentals; data is just a reference. The heavy hedging positions in BTC indicate that big players are risk-averse, and the market might not be as easy as it seems. The large gap in the Put/Call ratio this time—does it mean retail investors are even more bearish than institutions?

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