Bitcoin (CRYPTO: BTC) faces a $10 billion quarterly options expiry on Friday but is trading below its “maximum pain” level of $72,000.
The "Max Pain Theory"
The “max pain” theory suggests that asset prices tend to gravitate toward the strike level. This is where options buyers would suffer the greatest losses at expiry, benefiting options writers who sold those contracts.
For the June quarterly expiry, that level sits at $72,000, far above Bitcoin’s current trading range near $61,000.
The divergence has reignited debate over whether max pain levels have meaningful influence on crypto markets.
