Deribit Exchange Reports $5.7B Bitcoin Options Expiry With Minimal Market Impact Expected

Approximately 48,600 Bitcoin options contracts valued at $5.7 billion are set to expire today, representing a notably smaller event compared to last week's quarterly expiry. Market analysts indicate this volume is unlikely to significantly influence spot prices, which continue to exhibit volatility amid recent geopolitical developments.

A put/call ratio of 0.75 reflects bullish trader sentiment, with open interest concentrated at $140,000 and $120,000 strike prices. Deribit data identifies a max pain point of $116,000—closely aligned with current spot prices—where the majority of losses will materialize.

Institutional activity persists in shaping market trends as long-term holders lock in profits. The derivatives market also shows heightened interest in Ethereum, with $1.35 billion in ETH options scheduled to expire concurrently with bitcoin positions.