Over $4.3 billion in Bitcoin and Ethereum options are expiring today, potentially impacting market dynamics. Bitcoin options account for $3.5 billion of this total, with a Put-to-Call ratio of 1.23 and a maximum pain level of $114,000. Ethereum options, valued at $806.75 million, show a Put-to-Call ratio of 0.99, suggesting bullish sentiment, with a maximum pain level of $4,500. This expiration comes amid heightened market caution following the Federal Reserve's interest rate decision. Analysts have observed increased implied volatility and decreased trading volume. The market is expected to stabilize post-expiration, as traders adjust to new price conditions. Notably, next week's expiration on September 26 is projected to be the largest ever, with over $18 billion in notional value set to expire.