Over $6 billion worth of Bitcoin, Ethereum, and XRP options are expiring all at once in the crypto market today, October 24, 2025. With the release of the U.S. Inflation Rate Report (CPI) also happening today, big price swings (Volatility) are expected in the market. In this situation, Matrixport, a leading financial service company, has predicted how Bitcoin’s price will move in the short term.
$6 Billion Expiry – The Dominance of the Derivatives Market
Today’s massive expiry event has caught the attention of traders, as derivatives trades heavily influence the money flow in the market.
- Bitcoin’s Status: Options worth $5.15 billion on Bitcoin alone are expiring on Deribit, the largest derivatives exchange. The Put-Call Ratio is 0.91, which indicates that traders are betting more on Call (buy right) options than on Put (sell right) options, following the recent $850 billion drop in the crypto market.
- Max Pain Price ($113,000): The Max Pain Price for Bitcoin options is $113,000. Since this is higher than the current market price, there is expected to be pressure today to pull the price toward the $113,000 level.
- Ethereum and XRP: About $0.79 billion in Ethereum options and $4.33 million in XRP options are also expiring today. Ethereum’s Max Pain Price is very close to its current price of $3,975.
Matrixport’s Prediction: A Short-Term Stabilization Phase
Matrixport has analyzed the current market conditions and predicts that the Bitcoin price will remain range-bound (staying within a small area). Here are the main reasons why the company came to this conclusion:
- Bullish Fatigue: Even though the economic environment (Macro Support) and expectations of interest rate cuts are positive, there is a short-term tiredness (weariness) in the market, both technically and structurally.
- 21-Week Moving Average (21-WMA) Challenge: Bitcoin’s price has been trading below the 21-Week Moving Average for two consecutive weeks. Historically, this line is a critical boundary that determines the market’s main trend (Bullish vs. Bearish). The price remaining below this line signals weakness.
- Economic Pressures: The market crash on October 10th happened amidst President Trump’s new Tariff Threats against China. These fears about political and economic instability are causing traders to lose confidence. (The news that President Trump may meet with Chinese President Xi Jinping next week is also getting attention).
- On-chain Weakness: Data from the blockchain (On-chain) shows that long-term investors are taking profits and starting to sell their crypto assets. Also, new money coming into the market has slowed down.
Matrixport predicts that until confidence strengthens among traders, the Bitcoin price is likely to trade in a Consolidation phase (stabilizing), staying within a narrow range.
Other Key Factors
In addition to the options expiry, the U.S. CPI inflation data released today is a major factor that could change the market’s mood. High inflation could delay the central bank’s expected interest rate cuts. This might create more selling pressure in the crypto market. Although XRP options show positive signs for a move upward, the fear surrounding the CPI data is currently dominating the selling pressure.
