Deep Tide TechFlow news, on February 5th, according to Deribit data, over 2.5 billion dollars worth of cryptocurrency options contracts will expire tomorrow (UTC 8:00). Among them, Bitcoin options account for 2.15 billion dollars, with a put/call ratio of 1.42, and the maximum pain price at 82,000 dollars; Ethereum options account for 408 million dollars, with a put/call ratio of 1.13, and the maximum pain price at 2,550 dollars.

Bitcoin's open contracts are mainly concentrated in the range of 80,000 to 90,000 dollars, with increased put activity indicating that traders are cautious about the recent market. Ethereum positions are concentrated in the mid-2000 dollar range, with strong bearish positions below the spot price area and active bullish interest in the high-price area.

Analysis indicates that as the demand for protection increases and volatility is repriced, this option expiration may bring about a short-term reset of liquidity for market makers' hedging, and may eliminate the "gravity effect" around important strike prices, causing the price movements after expiration to differ from the previous days.