Deribit Exchange Sees $2.1 Billion in Bitcoin and Ethereum Options Expire, Fueling Market Volatility
The cryptocurrency market is bracing for turbulence today as $2.1 billion worth of Bitcoin and Ethereum options approach expiry. Bitcoin's $1.7 billion expiration dominates the event, with Deribit exchange data showing 23,000 contracts set to close at a nearly balanced put-call ratio of 0.96. The $70,000 max pain point looms large—a key psychological threshold where most option holders would face losses.
Ethereum's $370 million expiry compounds the pressure, though trading volumes remain subdued compared to Bitcoin. Recent failed attempts to hold above $75,000 have left BTC testing critical support at $70,547, while bearish $60,000 positions signal lingering downside expectations. Spot Bitcoin ETFs add to the tension with two consecutive days of outflows totaling $253.7 million.
