Cryptocurrency markets may witness an increasing wave of selling today as Bitcoin and Ethereum options approach expiration. Traders anticipate sharp volatility due to the expiry of options and rising uncertainty, especially with Trump considering delivering a "decisive blow" to Iran after rejecting its offer to end the war.

The cryptocurrency market experienced profit-taking after the inflation rate in the US Consumer Price Index reached its highest level in three years at 3.5%. Oil prices also rose to $106 as the US continued its naval blockade of the Strait of Hormuz to exert more pressure.

Bitcoin options expiring worth over $1.7 billion raise concerns of heavy selling in the crypto market.
According to Deribit, a cryptocurrency derivatives trading platform, nearly 23,000 Bitcoin options with a notional value of $1.74 billion are set to expire on May 1. The put-to-call options ratio is 1.10, indicating a larger volume of puts compared to calls, suggesting traders are leaning bearish.

The maximum price for Bitcoin is $76,000, which is below the current market price of $77,200. Furthermore, put options are higher than call options at the strike price of $76,000, with trading volumes at $75,500 and $77,000 experiencing significant activity amid current crypto market volatility. ❤️❤️❤️❤️💯🥰💫💫