Bitcoin Eyes $10.4–10.5K Support as Traders Turn Cautiously Bearish Ahead of Sept. 26 Options Expiry

Greek.live researcher Adam posted on social media that market sentiment is cautiously bearish, with participants advising against bottom fishing until a clear trend reversal emerges. Market actors are watching the Bitcoin support band at $10.4–10.5k and the technical threshold for Ethereum near $4,000, remaining vigilant ahead of the quarterly settlement on September 26.

COINOTAG cited Deribit data indicating the options expiry on September 26 includes BTC options with a $17.47 billion notional, a put/call ratio of 0.74 and a maximum-pain point at $110k, and ETH options with a $5.48 billion notional, a put/call ratio of 0.76 and a maximum-pain point at $3,700.

Market participants are monitoring these metrics for potential short-term volatility, prioritizing support tests and risk management over initiating fresh long positions in the run-up to the settlement event.