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▲ Donald Trump, Bitcoin (BTC)/AI generated image
As former U.S. President Donald Trump hinted at the possibility of ending the war with Iran, bringing a positive sentiment to the market, the virtual asset market, facing a large-scale options expiry, is watching the Max Pain price, a technical watershed.
According to crypto media outlet Coingape on April 17 (local time), President Trump recently stated that "the war in Iran could end very soon," easing geopolitical tensions in the Middle East. Trump's remarks pushed international oil prices down to the $85 level while stimulating risk asset preference. Bitcoin (BTC) showed a strong rebound, testing the $75,000 resistance level, buoyed by the resolution of geopolitical uncertainties.
The market's attention is now focused on the expiry of virtual asset options totaling $2.1 billion. Among the expiring options, Bitcoin options amount to approximately $1.63 billion, with the Max Pain price set around $71,000. For Ethereum (ETH) options, approximately $445 million are expiring, with the Max Pain point at around $2,250. Max Pain is the price level at which option buyers incur the maximum loss, often creating a magnetic effect that draws the market price towards that point.
Bitcoin is currently facing a strong resistance zone between $75,000 and $76,000. The put/call ratio stands at 1.02, indicating a tense standoff between sellers and buyers. Since the price is trading above the Max Pain point, analysis suggests that a temporary price correction could occur around the expiry date. Experts believe that the resolution of volatility after expiry will be the trigger for a full-fledged bullish rally.
The altcoin market is also defending key support levels and eyeing rebound opportunities. XRP is testing the $1.45 resistance level, strengthening its position as a payment network. Solana (SOL), highly sensitive to macroeconomic factors, reacted most strongly to President Trump's diplomatic achievements, demonstrating resilience. Ethereum has solidified its $2,000 support level and is now gaining upward momentum by setting a short-term target price of $2,268.5.
With the major positive news of Middle East peace negotiations coinciding with technical options expiry volatility, the virtual asset market has reached a significant turning point. As geopolitical risks subside, abundant liquidity is flowing in, expected to further empower the market's overall bull run. Investors are rebalancing their portfolios, observing whether support emerges around the Max Pain price after options expiry. Bitcoin's success in stabilizing above $70,000 appears to be the key factor determining the market's future direction.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.*
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