Crypto Prices Rise as Bitcoin, Ethereum, and XRP Face $2.5B Options Expiry

Bitcoin (BTC), Ethereum (ETH), and XRP prices moved higher after former U.S. President Donald Trump suggested that a peace agreement with Iran could be finalized as early as this weekend in Europe. The positive geopolitical development has boosted market sentiment, encouraging investors to buy the recent dip despite the expiration of nearly $2.5 billion worth of crypto options today.

The broader cryptocurrency market is showing signs of recovery as analysts point to improving sentiment and stronger technical indicators. Market experts, including CryptoQuant, previously identified a potential bottom near $53,600 for Bitcoin. Since then, BTC has rebounded, supported by growing confidence among traders and investors.

According to Deribit data, approximately 35,000 Bitcoin options contracts worth $2.2 billion are set to expire on June 12. The put-to-call ratio stands at 0.67, signaling a bullish outlook as traders continue favoring call options. Bitcoin’s max pain price is currently $66,000, well above its market price of $63,262. Traders have also increased positions in $68,000 and $70,000 call options, reflecting expectations of further upside. Rising implied volatility and a declining 25-delta skew also indicate strengthening bullish sentiment.

Technical indicators further support the recovery narrative. Bitcoin is trading within the Fibonacci Golden Zone on the weekly chart and remains above the critical 200-week moving average. Analysts believe maintaining this level could pave the way for a move toward $70,000 and potentially confirm a longer-term market bottom.

Institutional demand has also improved. BlackRock’s iShares Bitcoin Trust (IBIT) recorded $30.3 million in inflows after a period of significant outflows. Additional inflows were reported across Morgan Stanley and Grayscale spot Bitcoin ETFs.

Ethereum is also attracting bullish attention as $291 million worth of ETH options expire today. The overall put-to-call ratio of 0.62 suggests positive market expectations, although short-term traders have shown increased demand for puts. Ethereum’s max pain price sits at $1,725, above the current market price of $1,664. Deribit data indicates a 57% probability that ETH will settle above the $1,650 strike level. Rising implied volatility and declining skew metrics suggest traders anticipate a potential rebound in Ethereum prices.

On the institutional side, BlackRock’s Ethereum ETF (ETHA) attracted $8.6 million in inflows. However, total spot Ethereum ETFs still recorded net outflows of $15.9 million.

Meanwhile, XRP faces approximately $7.3 million in options expirations. The asset’s put-to-call ratio of 1.10 and max pain price of $1.15 suggest room for a potential recovery if broader crypto market momentum continues. Despite growing bearish bets in recent trading sessions, developments such as Kalshi’s launch of XRP perpetual trading and favorable on-chain metrics could support future gains.

While traders remain cautious and have avoided aggressive one-sided bets, the market’s overall bias has shifted toward the upside. Investors are closely watching whether fresh capital returns to the crypto market and whether Bitcoin can maintain support above its 200-week moving average. A sustained hold above this key level could attract whales and long-term holders back into the market, strengthening the foundation for the next bullish cycle.