Forget max pain theory. Bitcoin is well below the $72,000 magnet going into $10 billion options expiry (opens original article in a new tab)

Bitcoin price dropped below $60,000 before a $10 billion options expiry, contradicting the max pain theory which suggests prices should gravitate toward $72,000. Options experts note the lack of expected price pinning effect around the max pain level, though the expiry remains a significant liquidity event with potential for volatility.

• Bitcoin price fell below $60,000 before $10 billion options expiry
• Max pain level for expiry is $72,000, above current spot prices
• Options experts question max pain theory due to lack of price pinning effect
• June Deribit expiry remains a major liquidity event with potential volatility