Crypto market participants are preparing for turmoil as options worth around $8.05 billion in Ethereum (ETH) and Bitcoin (BTC) expire today.
The volume and notional value of today’s options expiry increase the likelihood that it may impact short-term trends; therefore, traders and investors should pay close attention to it. Nonetheless, information about what to anticipate and potential market trends may be found in the put-to-call ratios and maximum pain points.
Insights on today’s expiring Bitcoin and Ethereum options
The Bitcoin options that are expiring today have a theoretical value of $7.24 billion. Deribit’s data indicates that the put-to-call ratio for these 77,642 expiring Bitcoin options is 0.73. This ratio indicates that buy options (calls) are more common than sell options (puts).
Additionally, the research shows that $86,000 is the maximum pain point for these expiring options. The price at which the asset will result in the largest amount of holders’ financial losses is known as the maximum pain point in cryptocurrency options trading.
Today marks the expiration of 458,926 Ethereum options contracts in addition to Bitcoin options. The put-to-call ratio is 0.74, the maximum pain point is $1,900, and the notional value of these expiring options is $808.3 million.
Compared to previous week, there were a lot more Ethereum options expiring today. According to BeInCrypto, there were 177,130 contracts of ETH options that expired last week, with a $279.789 million notional value.
At the time of writing, Bitcoin was trading at $93,471, much above its highest pain level of $86,000. Ethereum, meanwhile, was trading at $1,764, below its $1,900 strike price.
🚨 Options Expiry Alert 🚨
At 08:00 UTC tomorrow, over $8B in crypto options are set to expire on Deribit.$BTC: $7.2B notional | Put/Call: 0.73 | Max Pain: $85K$ETH: $801M notional | Put/Call: 0.73 | Max Pain: $1.9K
BTC trades above max pain, ETH below.
Positioning into… pic.twitter.com/A9xI1dqzoV— Deribit (@DeribitOfficial) April 24, 2025
Both Bitcoin and Ethereum may pull in the direction of their respective levels since the maximum pain level, also known as the strike price, frequently acts as a price magnet as a result of smart money activities.
High trader activity is indicated by the positioning of both Bitcoin and Ethereum open interest close to maximum pain. This is demonstrated by the dense clustering of their respective histograms, which are approximately $80,000 to $90,000 for Bitcoin and $1,800 to $2,000 for Ethereum.
This positioning raises the possibility of either short-term price volatility or consolidation.
Nvidia snubs Arbitrum’s AI ambitions: What’s next for Ethereum’s leading L2?
According to reports, Arbitrum (ARB) was denied entry into Nvidia’s Ignition AI Accelerator program as part of the chipmaker’s risk management plan.
In the midst of an ongoing battle to recover from an 85% price decline, the Layer-2 (L2) network has been making a concerted effort to restore its image.
Nvidia turns down Arbitrum’s bid
According to reports, the initial idea was for Arbitrum to be the Ethereum partner in Nvidia’s Ignition AI Accelerator program. But according to reports, the L2 network was abruptly shut off.
For risk management reasons, the global American technology corporation really chooses to stay away from cryptocurrency companies.
Arbitrum stated that it was originally planned to be the Ethereum partner in Nvidia’s Ignition AI Accelerator program, but was halted by Nvidia at the last moment. Nvidia recently explicitly excluded cryptocurrency-related projects from its Inception program.… https://t.co/NiQztfoJyw
— Wu Blockchain (@WuBlockchain) April 25, 2025
In fact, when Nvidia first announced its accelerator program, the company made it clear on the application form that companies involved in cryptocurrency would not be accepted.
“The following types of organizations do not qualify for membership: Consulting and outsourced development firms, companies associated with cryptocurrency, cloud service providers, resellers and distributors, and public companies,” read an excerpt on the application page.
In order to maintain the GPU giant’s AI-first brand persona, this position poses a measured risk. However, given the tendency for decentralized systems and artificial intelligence to converge, others claim the shift might hinder innovation.
The recent announcement by Nvidia to exclude cryptocurrency-related projects from its Inception program raises questions about the future of collaboration between traditional tech giants and the blockchain sector.
— ZRAI Technical (@pham_thuong97) April 25, 2025
Optimism (OP) and other competitors in the same market are behind Ethereum’s largest layer-two scaling solution, Arbitrum. Arbitrum One, the hopeful rollup that posts transactions on-chain and inherits Ethereum’s security, tops L2s in TVL measures, according to data on L2Beats.
Despite being at the forefront of L2 scaling solutions, Arbitrum is still far behind its peak of $1.2384 on December 6, 2024. In light of this, the network has been making efforts to bounce back.
One of these is a March token repurchase program designed to fortify the ecosystem and cushion supply shocks brought on by a significant token unlock event. The strategy was successful for a while, as the price of ARB rose 36% before the downward trend resumed, reaching a low of $0.2420 on April 7.
However, with the token still down than 70% below its December highs, experts recommended more actions. According to Yogi, a well-known wallet maxi, tactics like token buybacks indicate a halt in innovation and lack long-term vision.
In a similar vein, Patryk, a researcher with Messari Crypto, said that instead of adhering to a strict structure like token buybacks, Arbitrum maintains flexibility and gradually allocates funds into important sectors.
“I think projects will do this eventually. It’s just difficult to announce a concrete plan for the funds at the beginning of buybacks, like those that Arbitrum just announced. Remain flexible,” the researcher suggested.
In order to get a competitive advantage, Arbitrum could have thought about switching to Nvidia’s accelerator program. Now that this concept has been abandoned, Aributrum must contend with a proposal from ARB to provide airdrops as a way to reward early backers.
Ripple president Monica Long shares big updates for XRP Community
XRP fans are encouraged when Ripple President Monica Long provides significant updates on a new purchase and projects that 2025 will be the company’s best year.
With her remarks about the most recent events, Ripple President Monica Long once again captured the interest of the XRP community. Long discussed the latest purchase and other significant information on the blockchain company and its offerings in a recent interview. Additionally, she said that 2025 will be Ripple’s finest year to date, which has improved market sentiment even more.
Her remarks are noteworthy since they coincide with CEO Brad Garlinhouse’s praise of a recent report that suggests a more robust international push for the company’s financial infrastructure.
Ripple president Monica Long on Hidden Road deal
In an interview with CNBC’s Arjun Kharpal, Ripple President Monica Long talked about the company’s recent purchase of Hidden Road. The blockchain company, which is well-known for its top-tier brokerage services, will now be essential to improving Ripple’s primary services, which include asset tokenization, custody, and payments.
Long underlined that this action immediately advances the blockchain company’s long-standing objective of creating strong business finance infrastructure. She also mentioned Ripple’s worldwide reach, stating that they have implemented strong liquidity tools and real-time settlement capabilities to build their network “brick by brick.”
She said that the business currently has over 60 regulatory licenses throughout the globe, which gives it a significant edge in providing end-to-end financial services. Monica Long said she was very excited about the integration of Ripple’s ecosystem with Hidden Road’s services.
She emphasized that significant economies may be unlocked by integrating Ripple’s institutional-grade custody, post-trade settlement through the XRP Ledger (XRPL), and prime brokerage. The Ripple President claims that these advancements set the stage for Ripple’s most prosperous year to yet.
In addition, recent Ripple Director Craddock has outlined the Hidden Road deal’s potential and the part XRP Ledger (XRPL) plays in it.
Ripple CEO sparks optimism with recent XRP update
Monica Long emphasized that managing the whole financial flow—from sourcing liquidity to making last-mile payouts—is where Ripple excels. This infrastructure will continue to rely heavily on XRP and the soon-to-be RLUSD stablecoin. Digital asset utility is anticipated to soar with Ripple’s expanding suite of services. She added:
“2025 is shaping up to be the best year yet for Ripple.”
Ripple CEO Brad Garlinghouse applauded the CME Group’s decision to launch XRP Futures on May 19 amid Monica Long’s encouraging comments. Although he acknowledged that the launch was “overdue,” he emphasized that it represents a significant turning point in XRP’s market maturity. The CEO of Ripple, Garlinghouse, praised the upgrade, saying:
“This is an incredibly important and exciting step in the continued growth of the XRP market!”
