Deribit Exchange Sees $5 Billion Bitcoin & Ethereum Options Expiry: Key Market Signals
Over $5.03 billion in Bitcoin and ethereum options are expiring today on Deribit, with $4.3 billion in BTC contracts (36,970 open interest) and $712.35 million in ETH (239,926 open interest). The Put-to-Call ratios of 1.06 (BTC) and 1.11 (ETH) indicate bearish sentiment. Maximum pain levels sit at $108,000 for Bitcoin and $2,600 for Ethereum, suggesting potential price volatility post-expiry.
This week's expiry significantly exceeds last week's $3.6 billion event, though both showed PCRs above 1—typically signaling dominant put positioning and short-term downward pressure. However, crypto markets historically absorb such events quickly, resulting in liquidity reshuffles rather than sustained trends.
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