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Deribit Exchange Sees Historic $23.6 Billion Bitcoin Options Expiry, Price Dips Below $88K

Deribit Exchange Sees Historic $23.6 Billion Bitcoin Options Expiry, Price Dips Below $88K

Author:

Global Cryptocurrency

Published:

2025-12-23 05:33:05

16

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Deribit exchange News -

Bitcoin's price retreated below $88,000 after briefly touching $92,000, as traders braced for the largest single-day options expiry in history. On December 26, roughly $23.6 billion in notional Bitcoin options expired on Deribit—a seismic event that could trigger volatility in thin holiday liquidity.

The put-to-call ratio of 0.38 reveals skewed bullish positioning, with 'max pain' hovering NEAR $96,000—a level that often magnetizes price action around expiry. Bitcoin's current $1.75 trillion market cap reflects the high-stakes maneuvering ahead.

Historically, such expiries during low-volume periods amplify price swings. This one lands amid a holiday lull, where sparse order books can exacerbate moves without fundamental catalysts.

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