Deribit Exchange Sees $4.1B BTC and ETH Options Expiry, Fueling Market Volatility Concerns

Cryptocurrency markets are preparing for potential turbulence as $4.11 billion in Bitcoin and ethereum options contracts expire today. This event, one of the largest quarterly expiries this year, occurs amidst already fragile market conditions for both digital assets.

Deribit data shows $3.5 billion in Bitcoin options (33,972 contracts) and $565 million in Ethereum options (224,509 contracts) will mature. Bitcoin's expiry volume has increased 21% week-over-week, while Ethereum's declined by 9% from last week's 246,849 contracts.

Market makers face maximum pain points at $61,000 for BTC and $3,400 for ETH—price levels that could trigger aggressive hedging activity. The put/call ratio indicates traders remain cautiously optimistic, with open interest favoring calls at strike prices above current market levels.