While Bitcoin (BTC) remained stuck in a certain range, upward movement resumed in altcoins led by Ethereum (ETH). While ETH surpassed $3,900, other altcoins also experienced significant increases. While the bullish mood in the market is expected to continue, the expiration date for option contracts in the crypto market has come today, as it does every Friday. According to data for the second week of August, $4.11 billion worth of Bitcoin and $864 million worth of Ethereum options will expire on August 8 on the Deribit derivatives exchange. Accordingly, the Put/Call Ratio of BTC options is 1.45, the maximum loss point is $116,000 and the notional value is $4.11 billion. When we look at Ethereum, ETH options have a Put/Call Ratio of 1.14, a maximum loss point of $3,650, and a notional value of $864 million. The maximum pain point is the level at which the cryptocurrency price settles at a certain value as an option approaches its expiration date, resulting in significant losses for the largest number of option traders. The maximum pain point is the level at which the cryptocurrency price settles at a certain value as an option approaches its expiration date, resulting in significant losses for the largest number of option traders. At this point, significant volatility could be seen in Bitcoin's price following the $4.11 billion options expiration on August 8th. While the maximum pain point is at $116,000 for BTC and $3,650 for Ethereum, investors could push prices to this level through market manipulation, as market prices are above the maximum pain point. The Put/Call ratio for Bitcoin of 1.45 also indicates that put options (bets on a price decrease) are more prevalent than call options (bets on a price increase). This suggests a widespread bearish sentiment among option holders regarding Bitcoin's near future. The same goes for Ethereum. The put/call ratio of 1.14 for ETH suggests that investors are bearish on it as well. *This is not investment advice.