. We'll translate text inside.
Let's translate paragraph by paragraph.
Original: "On July 31, 2026, a massive options expiry hit the crypto market. 149,000 Bitcoin options and 435,000 Ethereum options expired, with a combined notional value of over $10.4 billion. Bitcoin was trading at $63,800, just below the $64,000 max pain level, while Ethereum sat around $1,890, near its $1,850 max pain."
Norwegian: "Den 31. juli 2026 rammet en massiv opsjonsutløp kryptomarkedet. 149 000 Bitcoin-opsjoner og 435 000 Ethereum-opsjoner utløp, med en samlet nominell verdi på over 10,4 milliarder dollar. Bitcoin ble handlet til 63 800 dollar, like under max pain-nivået på 64 000 dollar, mens Ethereum lå rundt 1 890 dollar, nær sitt max pain på 1 850 dollar."
Note: Use spaces as thousand separators in Norwegian (149 000, 435 000, 63 800, etc.) but for dollar amounts we can use comma for decimals? Actually in Norwegian, decimal comma, but here we have whole numbers. For $10.4 billion, we write "10,4 milliarder dollar" (comma as decimal). For $63,800 we write "63 800 dollar" (space as thousand). For $1,890 -> "1 890 dollar". For $1,850 -> "1 850 dollar". Also "max pain" we keep as is.
Next:
Bullish skew in Bitcoin options
-> "
Bullish skjevhet i Bitcoin-opsjoner
" but "skjevhet" might not be exact. "Bullish skew" is a term; we can say "Bullish skjevhet" or "Bullish helling". I'll use "Bullish skjevhet" as it's understandable. Or "Bullish bias"? Actually "skew" in options context is "skjevhet" or "helling". I'll use "Bullish skjevhet".
Paragraph: "The Bitcoin options had a put/call ratio of 0.28, meaning calls outnumbered puts by a wide margin. That's a bullish skew — traders were betting on upside. The max pain price, where the most options expire worthless, sat at $64,000. Bitcoin's spot price of $63,800 was tantalizingly close, but not quite there. If the price had pushed above $64,000 by expiry, many call sellers would have been forced to deliver. It didn't."
Norwegian: "Bitcoin-opsjonene hadde en put/call-ratio på 0,28, noe som betyr at calls var langt flere enn puts. Det er en bullish skjevhet – tradere satset på oppgang. Max pain-prisen, der de fleste opsjoner utløper verdiløse, lå på 64 000 dollar. Bitcoins spotpris på 63 800 dollar var fristende nær, men ikke helt der. Hvis prisen hadde presset seg over 64 000 dollar ved utløp, ville mange callsellere blitt tvunget til å levere. Det skjedde ikke."
Note: "put/call ratio" we keep as is or "put/call-forhold"? I'll keep "put/call-ratio" as it's common. "calls" and "puts" we keep as is. "tradere" for traders. "spotpris" for spot price. "callsellere" for call sellers.
Next:
Ethereum options show more caution
-> "
Ethereum-opsjoner viser større forsiktighet
"
Paragraph: "Ethereum's options told a different story. The put/call ratio was 0.63, still tilted toward calls but far more balanced. Max pain was $1,850, and ETH was trading around $1,890 — slightly above that level. That means more puts expired in the money than if the price had been lower. The notional value of the ETH expiry was $830 million, a fraction of Bitcoin's $9.6 billion, but still a significant event for the second-largest crypto."
Norwegian: "Ethereums opsjoner fortalte en annen historie. Put/call-ratioen var 0,63, fortsatt vippet mot calls, men langt mer balansert. Max pain var 1 850 dollar, og ETH ble handlet rundt 1 890 dollar – litt over det nivået. Det betyr at flere puts utløp i pengene enn hvis prisen hadde vært lavere. Den nominelle verdien av ETH-utløpet var 830 millioner dollar, en brøkdel av Bitcoins 9,6 milliarder dollar, men fortsatt en betydelig hendelse for den nest største kryptovalutaen."
Note: "in the money" -> "i pengene" is a common translation for options. "second-largest crypto" -> "nest største kryptovalutaen".
Next:
Bitcoin Hyper raises $32.9M in presale
-> "
Bitcoin Hyper henter inn 32,9 millioner dollar i presalg
" (or "presale" is often used, but "presalg" is Norwegian. I'll use "presalg".
Paragraph: "Separately, Bitcoin Hyper — a Bitcoin Layer 2 that integrates the Solana Virtual Machine — announced it raised $32.9 million in its presale. The token price was set at $0.0136839. The project aims to bring Solana's high-speed execution environment to Bitcoin's security, a niche that's drawn increasing interest this year. The presale closed on the same day as the options expiry, though the two events are unrelated."
Norwegian: "Separat kunngjorde Bitcoin Hyper – et Bitcoin Layer 2 som integrerer Solana Virtual Machine – at de hadde hentet inn 32,9 millioner dollar i presalget. Token-prisen ble satt til 0,0136839 dollar. Prosjektet har som mål å bringe Solanas høyhastighets eksekveringsmiljø til Bitcoins sikkerhet, en nisje som har tiltrukket seg økende interesse i år. Presalget ble avsluttet samme dag som opsjonsutløpet, selv om de to hendelsene er urelaterte."
Note: "Layer 2" is kept as is. "Solana Virtual Machine" is proper noun. "token-prisen" for token price. "eksekveringsmiljø" for execution environment.
Last paragraph: "The expiry passed without major disruption. The real question now is whether Bitcoin can break above the $64,000 level in the coming days. If it does, the next batch of call buyers might finally see their bets pay off."
Norwegian: "Utløpet passerte uten større forstyrrelser. Det virkelige spørsmålet nå er om Bitcoin kan bry
