Deribit Exchange Faces $23 Billion Bitcoin Options Expiry, Market Braces for Volatility
Bitcoin markets are bracing for turbulence as $23 billion in options contracts approach expiration next Friday. The looming expiry represents over half of Deribit's open interest, setting the stage for potential price swings.
Market indicators reveal growing unease. Thirty-day implied volatility has climbed to 45%, while the -5% skew signals heavy demand for downside protection. Traders appear particularly focused on the $1.4 billion put wall at $85,000, which could act as a magnet for spot prices.
Deribit, the dominant BTC options platform, faces its largest expiry event in recent history. The concentration of open interest raises liquidity concerns, with market makers scrambling to hedge positions amid uneven trading conditions across digital asset markets.
