CoinMeta data: Approximately $15.6 billion in Bitcoin options will expire on Friday. These options are mainly traded on the Deribit platform and involve around 182,000 BTC open contracts, including 106,200 call options and 75,900 put options. Call options grant the buyer the right to purchase Bitcoin at a set price and date, while put options allow the holder to sell Bitcoin at a set price. The current put/call ratio is 0.71, indicating the market's expectation of a price increase. Data from Deribit shows that the maximum pain point price on Friday is $76,000, which is lower than Bitcoin's current price of around $85,000. Option traders need to hedge their risks by buying or selling actual Bitcoin, and this hedging liquidity will disappear as the contracts expire.