Approximately $5.7 billion in Bitcoin and Ethereum options are set to expire on the Deribit exchange today. This includes $4.79 billion in Bitcoin options and $990 million in Ethereum options. The maximum pain levels are identified at $116,000 for Bitcoin and $4,100 for Ethereum. Analysts have observed a significant increase in bearish sentiment, with over $1.15 billion moving into put options in the past 24 hours.