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Crypto market crash risks mounts amid Bitcoin, Ethereum, and XRP options expiry today.
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Investors are rotating capital to XRP ETF as it record inflows while Bitcoin and Ethereum see redemptions.
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Fed rate hike concerns under new Fed Chair Kevin Warsh sparks crash jitters.
The crypto market crash signs are flashing again, with traders anticipating a slump in Bitcoin price due to monthly crypto options expiry and new Fed Chair Kevin Warsh. Top altcoins Ethereum, XRP, Solana, Hyperliquid, Zcash, and Cardano could witness further pullback if BTC falls to $75,000.
Bitcoin, Ethereum, and XRP Options Flashing Crypto Market Crash Signs
Bitcoin options with a notional value of $1.57 billion are to expire on May 22, according to Deribit data. The put/call ratio of 0.64 and max pain price of $78,500 signal bullish sentiment and bias for upside momentum among options traders.
However, traders are opening more puts than calls in the last 24 hours, with a bearish put/call ratio of 1.50. Options trades are targeting $75,000 strike price and even $73,000, expecting a fall in Bitcoin price. Notably, the max pain price for May 29 monthly expiry is also $75,000, sparking crypto market crash concerns.
Moreover, 129,410 Ethereum options with a notional value of $274 million to expire today, with a put/call ratio of 0.92. Also, the max pain price is $2200, above the current market price of $2122.
Ethereum put volume has also surpassed call volume in the past 24 hours, with a put/call ratio of 1.15. Traders are targeting $2150 and $2100 strike prices. Options expert GreeksLive warns structured trades are dominating, with whales continuously building short-term, low-cost protective positions.
Meanwhile, XRP options worth almost $29 million to expire later this month, with max pain at $1.40. However, the put/call ratio has increased to 1.54 in the past 24 hours.
Whale accumulation is rising ahead of the major XRP Ledger upgrade on May 27. Over 50% nodes updated with the latest release and signals rising XRPL adoption amid growing institutional interest.
XRP ETF Records Inflows While Bitcoin and Ethereum See Redemptions
XRP ETFs and on-chain data indicate investors are likely rotating into the coin. Spot XRP ETFs netted about $42 million in a week, with a single‑day inflow of $8.88 million on Thursday.
XRP recorded the fourth-largest daily spike in wallet creation this year, with 4,300 new wallets added in 24 hours, according to Santiment data. Meanwhile, Solana ETF and Hyperliquid ETFs also witnessed $3.9 million and $16.1 million in inflows.
In contrast, spot Bitcoin ETFs recorded another $100.9 million in outflows, following redemptions of $648.6 million, $331.1 million, and $290.4 million in earlier sessions. Ethereum ETFs also remained under pressure, recording $32.6 million in outflows on Thursday.
