Deribit is set to see over $4.5 billion in Bitcoin and Ethereum options expire on September 5th at 4:00 PM Beijing time. The Bitcoin options, with a notional value of $3.28 billion, show a put/call ratio of 1.38 and have open interest concentrated between $105,000 and $110,000, suggesting a bearish market sentiment. The peak price for these options is $112,000. Ethereum options, valued at $1.27 billion, have a put/call ratio of 0.78, with bullish options concentrated above $4,500 and a peak price of $4,400. The market is closely watching to see if the expiration will influence Bitcoin's current price stability or lead to a significant price movement.