Bitcoin selloff meets $1.89B options expiry as bears gain control

cryptonews06-05

Bitcoin and Ethereum faced a tense options expiry on June 5 as crypto markets traded near multi-month lows, while Middle East ceasefire hopes moved oil and gold markets before fresh doubts returned. ...

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The batch carried a put-call ratio of 0.56 and a key max pain level near $70,500.Ethereum also faced options expiry pressure. 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The batch carried a put-call ratio of 0.56 and a key max pain level near $70,500.\nBitcoin traded far below that level after a sharp weekly slide. BTC briefly approached $60,000 during the selloff, leaving many short-term options away from their expected settlement zones.\nEthereum also faced options expiry pressure. About 155,000 ETH options expired, with a put-call ratio of 0.92, a max pain level near $2,000, and a notional value of $270 million.\nTogether, BTC and ETH expiries reached about $1.89 billion. The event was smaller than the prior end-of-month expiry, but it came during one of the weakest weeks for digital assets in months.\n\nJune 5 Options Data25,600 BTC options expiring, with a put-call ratio of 0.56, a key support level at $70,500, and a notional value of $1.62 billion.155,000 ETH options expiring, with a put-call ratio of 0.92, a key support level at $2,000, and a notional value of $270… pic.twitter.com/iDT1vl7faY— Greeks.live (@GreeksLive) June 5, 2026\n\nBitcoin bears dominate as hedging demand rises\nGreeks.live said Bitcoin’s drop below $70,000 made bearish traders more active earlier in the week. Put positions increased around $68,000, $65,000, and $60,000 as traders moved to protect against more losses.\nThe firm said short-term volatility also rose as prices fell. Skew turned negative, meaning the market paid more attention to downside protection than upside exposure.\n\nWith the price breaking below 70K, bears have become more aggressive, with significant increases in put positions at 68K, 65K, and 60K. Since last night, total trading volume has risen by 50%, block put trading volume has continued to climb, short-term IV has risen significantly,… pic.twitter.com/RVgwAlanwO— Greeks.live (@GreeksLive) June 2, 2026\n\nIn its June 5 update, Greeks.live said price action pushed both BTC and ETH far from their max pain levels. It also said weak conditions reduced market interest, while attention moved toward U.S. stocks.\nThe firm added that the market was not making large one-way crash bets. Instead, it said demand for active hedging had increased. Greeks.live said, “The best strategy is not to gamble on a rebound, but to reduce risk.”\nCeasefire hopes move oil and gold\nThe crypto selloff also came as global markets reacted to Middle East developments. Israel and Lebanon agreed to implement a ceasefire on June 4, raising hopes that pressure around Iran talks could ease.\nThat news quickly moved commodities. Oil prices fell more than 3% on hopes that a broader deal could support a reopening of the Strait of Hormuz, a key route for global oil flows.\nGold also reacted as the dollar and bond yields moved lower after the ceasefire reports. The move showed that traders viewed the announcement as a possible step toward lower regional risk.\nThe relief did not last cleanly. Hezbollah later rejected the agreement, while Israel said it would not withdraw troops from Lebanon. That kept concerns alive around U.S.-Iran talks and energy supply routes.\nCrypto market watches capital flows\nCrypto markets entered the expiry with weak momentum. Bitcoin hovered near the bottom of its recent range after a slide that erased large gains from the prior week.\nEther also traded under pressure after falling toward 14-month lows. Broader crypto market value dropped sharply during the week as traders cut risk across Bitcoin, Ethereum, and major altcoins.\nSeparate crypto.news market updates have kept Bitcoin’s $60,000 support zone in focus as traders weigh ETF flows, whale activity, and falling risk appetite. The same backdrop has made options positioning more important for short-term market direction.\nFor now, the market is watching whether capital returns after the expiry. A move back above $63,000 could ease immediate pressure for Bitcoin, while another break toward $60,000 could keep bearish positioning active into the weekend.\nEthereum faces a similar test below its $2,000 options level. A recovery above that zone would improve short-term sentiment. Failure to regain it could keep sellers focused on lower support areas.\nThe main question now is whether the expiry clears pressure or confirms deeper weakness. Traders are watching BTC’s $60,000 line, ETH’s $2,000 level, and macro signals from oil, gold, and U.S. stocks.\n\n\n  \n\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        \n\n\n\n\n\n\n                Read more:\n            \n\n                7RCC launches Bitcoin and carbon credit ETF on NYSE Arca","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2641116926","isCrawlerRequest":true}