As reported by PANews on November 12, 2026, at 13:09 (UTC+8), Greeks.live analyst Adam’s data showed nearly $2.8 billion in weekly BTC and ETH options set to expire on November 13.
- BTC: $2.48 billion in notional value, a $76,000 max-pain level and a put/call ratio of 0.52.
- ETH: $300 million in notional value, a $2,200 max-pain level and a put/call ratio of 1.55.
The report said BTC fell below its $76,000 max-pain level ahead of expiry and at one point traded in the $72,700–$73,300 range. It attributed the decline to a combination of the aftermath of a Binance theft incident, net ETF outflows and higher-than-expected U.S. CPI data. Those are the report’s explanations, not evidence that the options metrics caused the price move.