Deribit Exchange Braces for $5.76B Bitcoin & Ethereum Options Expiry – Bullish BTC Bias Emerges
Crypto markets are preparing for potential volatility as $5.76 billion worth of Bitcoin and ethereum options near expiration on Deribit. This quarterly event, one of the largest in 2025, may significantly influence weekend trading dynamics.
Bitcoin options display strong bullish sentiment with a 0.78 put-call ratio and max pain at $114,000—substantially below current $120,000 levels. Over 40,000 contracts ($4.9B notional value) remain open.
Ethereum shows more balanced positioning, with 237,466 open contracts ($851M) demonstrating nearly equal bearish and bullish bets (max pain $2,950). Market makers expect increased volatility as traders rebalance positions post-expiry.