Bitcoin is approaching one of the most significant events of the year with the expiry of options worth over $14 billion. The event is expected on Friday, June 28, and traders are closely monitoring market fluctuations.
Numbers Behind the Expiry: $14 Billion on the Line
The upcoming expiry at crypto derivatives exchange Deribit will settle more than 141,000 Bitcoin options contracts, representing over 40% of total open interest. This quarterly expiration traditionally comes with heightened volatility, attracting attention to Bitcoin's short-term price outlook.
Max Pain at $102,000
The max pain point, or the price at which options buyers would suffer the most financial losses, is currently set at $102,000. This metric serves as a guiding point for traders, especially in low liquidity conditions where derivatives can exert significant influence on spot markets.
ETF Momentum and Maturity of Derivatives
With options expiry approaching, inflows into spot Bitcoin ETFs continue to maintain price momentum. The evolution of strategies, such as cash-secured puts and calendar spreads, underscores the transition of market participants from retail speculators to institutional hedgers and yield-seekers.
Regardless of the outcomes of the upcoming options expiry, the derivatives data suggest a disciplined and risk-managed market, reflecting its maturity and resilience.
