Bitcoin drops after $14B options expiry, put/call ratio hits 1.3

Bitcoin slips to ~$66k after a $14B options expiry. Traders turn defensive, with puts in demand (Bloomberg).

The largest 2026 expiry rolled off. About $14B in notional options expired Friday (Fortune).

Bitcoin trades near $66k at writing. Bloomberg flags the two‑week low and a more cautious stance (Bloomberg).

Front‑month OI was hit. 30–40% was wiped in one session. Spot volumes rose 10–20% versus prior day. Positioning looks cleaner now (Bloomberg).

Puts outpaced calls into the weekend. The 24h put/call climbed to 1.3, signaling downside hedging (Bloomberg).

Institutions sold upside calls in Q1. Market makers hedged, buying dips and fading rallies. This flow muted swings (Fortune).

Price kept gravitating to “max pain.” Traders cite ~$75k as the magnet where most options expire worthless (Fortune).

• Price now about $66k Bloomberg
• $14B options expired Friday Fortune
• Front‑month OI −30–40% in a day Bloomberg
• Put/call at 1.3 past 24h Bloomberg
• “Max pain” zone near $75k Fortune