Bitcoin and Ethereum options with a nominal value of $7.48 billion are set to expire today. According to Greeks.live, 84,000 BTC options with a put-call ratio of 0.88 and a max pain point of $75,000, valued at $6.2 billion, are expiring. Additionally, 639,000 ETH options with a put-call ratio of 0.81 and a max pain point of $2,200, valued at $1.28 billion, are also due. Despite the large expirations, both BTC and ETH have fallen below their max pain points, indicating a lack of support at these levels. This month, only 20% of options are expiring, with June's options concentration rising to 40% of open interest. The market has shown a neutral to slightly defensive stance, with put-call ratios not indicating extreme bearishness. The implied volatility remains low, under 35%, suggesting limited downside potential. The market's focus is now on whether capital will return and if BTC can reclaim $75,000 and ETH $2,100.