84,000 BTC Options Expire Today at $75,000 Max Pain; ETH IV Near Historic Lows

According to BlockBeats citing Greeks.live data, 84,000 BTC options expire today (May 29) with a Put Call Ratio of 0.88, a maximum pain level of $75,000, and a notional value of $6.2 billion. Meanwhile, 639,000 ETH options also expire today with a PCR of 0.81, a maximum pain of $2,200, and a notional value of $1.28 billion.

Greeks.live analyst Adam noted that volatility compression has pushed main-tenor implied volatility below 35% across the board, approaching historically compressed levels. With both BTC and ETH trading below their maximum pain points, the dominant force is not buying but risk reduction and long liquidation, indicating weakened market strength.