Deribit Exchange Sees Record $3.52B Bitcoin Options Expiry as Markets Approach Critical Levels

Bitcoin and ethereum markets are bracing for significant volatility as a massive volume of options contracts expires today on Deribit exchange. With $3.52 billion worth of Bitcoin options set to close—marking the largest expiry this year—the put-call ratio of 1.23 indicates prevailing bearish sentiment. Analysts caution that a break below $115,200 could trigger a slide toward $105,500, with the maximum pain level positioned at $114,000.

Ethereum faces similar pressure at the crucial $4,500 threshold. Despite recent strength fueled by the SEC's ETF approvals, today's expiry is expected to dictate short-term price movements. Market participants are closely monitoring whether these key support levels will hold amid heightened derivatives activity and institutional positioning.