Deribit Exchange Reports $3.1B Crypto Options Expiry as BTC and ETH Retreat
Bitcoin and Ethereum paused their bullish momentum as the cryptocurrency market prepared for a $3.1 billion options expiry on May 16. According to Deribit data, $2.66 billion in Bitcoin options show a near-even Put/Call ratio of 0.99, indicating balanced sentiment between bulls and bears. Ethereum’s $525 million expiry leans bearish with a Put/Call ratio of 1.24.
Traders appear divided, hedging their positions as Bitcoin’s max pain point sits at $100,000 and Ethereum’s at $2,200. The market’s hesitation reflects broader uncertainty amid ongoing price volatility.