Deribit Exchange Sees Bitcoin and Ethereum Options Expiry Fuel Market Volatility
The monthly BTC and ETH options expiry on Deribit has introduced fresh volatility into cryptocurrency markets, with Bitcoin dropping to $115,549.15 amid price pressure near the $112,000 maximum pain level. While the $15.45 billion expiry event remains significant, it falls short of June's $17 billion record—highlighting the market's resilient liquidity during traditional summer slowdowns.
Ethereum faces unlikely downward pressure with its $2,800 max pain threshold, as both assets have consistently expired above these levels in recent months. The put/call ratios of 0.88 for BTC and 0.87 for ETH reveal persistent bullish undercurrents, even as Deribit's open interest surges past $37 billion quarter-to-date.