Crypto Market Crash Alert: Bitcoin Risks Falling to $75K, Will Ethereum & XRP Follow?

The crypto market crash signs are flashing again, with traders anticipating a slump in Bitcoin price due to monthly crypto options expiry and new Fed Chair Kevin Warsh. Top altcoins Ethereum, XRP, Solana, Hyperliquid, Zcash, and Cardano could witness further pullback if BTC falls to $75,000.

Bitcoin, Ethereum, and XRP Options Flashing Crypto Market Crash Signs

Bitcoin options with a notional value of $1.57 billion are to expire on May 22, according to Deribit data. The put/call ratio of 0.64 and max pain price of $78,500 signal bullish sentiment and bias for upside momentum among options traders.

However, traders are opening more puts than calls in the last 24 hours, with a bearish put/call ratio of 1.50. Options trades are targeting $75,000 strike price and even $73,000, expecting a fall in Bitcoin price. Notably, the max pain price for May 29 monthly expiry is also $75,000, sparking crypto market crash concerns.

Bitcoin Options Expiry Today. Source: Deribit

Moreover, 129,410 Ethereum options with a notional value of $274 million to expire today, with a put/call ratio of 0.92. Also, the max pain price is $2200, above the current market price of $2122.

Ethereum put volume has also surpassed call volume in the past 24 hours, with a put/call ratio of 1.15. Traders are targeting $2150 and $2100 strike prices. Options expert GreeksLive warns structured trades are dominating, with whales continuously building short-term, low-cost protective positions.

Ethereum Options Expiry Today

Meanwhile, XRP options worth almost $29 million to expire later this month, with max pain at $1.40. However, the put/call ratio has increased to 1.54 in the past 24 hours.

Whale accumulation is rising ahead of the major XRP Ledger upgrade on May 27. Over 50% nodes updated with the latest release and signals rising XRPL adoption amid growing institutional interest.

XRP ETF Records Inflows While Bitcoin and Ethereum See Redemptions

XRP ETFs and on-chain data indicate investors are likely rotating into the coin. Spot XRP ETFs netted about $42 million in a week, with a single‑day inflow of $8.88 million on Thursday.

XRP recorded the fourth-largest daily spike in wallet creation this year, with 4,300 new wallets added in 24 hours, according to Santiment data. Meanwhile, Solana ETF and Hyperliquid ETFs also witnessed $3.9 million and $16.1 million in inflows.

In contrast, spot Bitcoin ETFs recorded another $100.9 million in outflows, following redemptions of $648.6 million, $331.1 million, and $290.4 million in earlier sessions. Ethereum ETFs also remained under pressure, recording $32.6 million in outflows on Thursday.

XRP, Bitcoin, Ethereum, Solana ETFs Flow

Goldman Sachs and Bank of America have cut Ethereum ETF exposure amid bearish narratives, Ethereum Foundation exits, and slowing network growth.

Crypto Market Crash Risks Mount Ahead of Kevin Warsh Taking Fed Chair

President Trump spent months threatening to fire Jerome Powell for not cutting rates. He also said cutting interest rates was a “requirement” for the next Fed Chair and was actively calling for 1% interest rates.

However, markets are bracing for incoming Fed Chair Kevin Warsh to hike rates as his first policy move. CME FedWatch Tool shows no rate cuts this year, instead a Fed rate hike in January 2027.

Despite Kevin Warsh‘s support for Bitcoin and Trump’s demand for Fed rate cuts, investors remain skeptical and fear a crypto market crash. Notably, the crypto market wiped out over $240 billion in a day, with $2 billion in liquidations across Bitcoin, Ethereum, XRP, BNB, Solana, HYPE, and other altcoins when President Trump nominated Warsh for Fed Chair.

International worries are mounting over a potential politicization of US dollar swap lines under a Kevin Warsh-led Fed. Markets are pricing in Warsh continuing his hawkish stance, pressuring Bitcoin and gold.

Bitcoin may also risk falling as Trump Media sells its Bitcoin holdings again, just ahead of Kevin Warshs swearing-in as Fed Chair today. This comes as the company reported a $406 million net loss in Q1 2026, largely driven by rising unrealized crypto losses and crypto market crashes.