Bitcoin Hovers Around $88,691 as $2.2B in BTC and ETH Options Expire in Early 2026 Test

More than $2.2 billion in Bitcoin and Ethereum options are expiring in the first major derivatives settlement of 2026, with Bitcoin trading near $88,691 and Ethereum around $3,023. The options data show a bullish tilt, as BTC and ETH both sit slightly above their respective max pain levels and call contracts outnumber puts, raising the potential for notable price swings once the expiry passes.