Deribit Exchange Reports $3.9B Crypto Options Expiry: Will It Disrupt Market Momentum?

The cryptocurrency market is facing a critical juncture as $3.9 billion in derivatives contracts expire today, including 34,000 Bitcoin options worth $3.3 billion and 215,000 Ethereum contracts valued at $546 million. According to Deribit data, Bitcoin's max pain point stands at $106,000, with the asset currently trading near this key level. Open interest clusters between $115,000 and $140,000 indicate persistent bullish sentiment despite broader market caution.

Geopolitical tensions and risk-off sentiment have wiped out $30 billion from crypto valuations since June 17. Traders remain cautious about Bitcoin potentially losing critical support levels at $104,000 and $100,000, even as stacked contracts suggest strong institutional conviction. ethereum reflects a similar dynamic—significant open interest contrasts with short-term bearish positioning.