Forget max pain theory. Bitcoin is well below the $72,000 magnet going into $10 billion options expiry
Bitcoin is trading significantly below the $72,000 'max pain' level ahead of a $10 billion options expiry on Deribit. Analysts suggest that the theory of market makers pinning prices to this level is losing credibility as recent market movements fail to align with the pattern.
Why it matters
This highlights the evolving nature of crypto market dynamics and the diminishing influence of traditional options theories on digital asset price discovery.
The max pain level for this expiry stands at $72,000, significantly above current spot prices of around $61,700. On Friday at 8:00 ET, options worth $10billion will expire on Deribit, the world s largest crypto options exchange.
The article presents multiple expert viewpoints and acknowledges the theory's historical popularity while noting its recent failure to predict market behavior.
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