Bitcoin's price has fallen by 4.4% to $26,050, erasing the gains made earlier this week. The cryptocurrency's market capitalization remains above $507 billion, but its decline has also caused a 3% dip in the total market value to $1.09 trillion.

Ethereum has also corrected by 3% to $1,650 after being rejected from weekly highs of $1,750. The expiration of 26,000 BTC options with a notional value of $690 million and a put-call ratio of 0.50 may cause key support areas at $26,000 and $25,000 to feel the pinch as investors absorb losses.