Tomorrow morning, over $2.5 billion in Bitcoin and Ethereum options will expire on Deribit, possibly inducing significant market volatility.
Bitcoin and Ethereum Options Expiry
Earlier today, Deribit announced the significant options expiry coming up tomorrow. At 08:00 (UTC), $2.07 billion in Bitcoin options will expire with a Max Pain Point of $98,000 and a Put/Call ratio of 0.7, while $458 million in Ethereum options will expire with a Max Pain Point of $2,750 and a Put/Call ratio of 0.65. This could trigger substantial volatility in the market.
Bitcoin Trades Near $96,000
At the time of writing, Bitcoin is trading near the $96,000 mark. The recent drop from levels above $96,000 followed the release of the U.S. Consumer Price Index report, showing a 0.5% MoM increase, which was higher than expected. This has reinforced the Fed's approach to maintaining current interest rates for the foreseeable future.
ETH Trades Above $2,600
Ethereum is trading above $2,600, outperforming Bitcoin as it rises by nearly 1% today. Despite recent outflows in BTC and ETH ETFs, the overall cryptocurrency market remains optimistic, supported by increased institutional adoption and development in the sector.
The upcoming expiration of Bitcoin and Ethereum options could act as a catalyst for market shifts amidst ongoing changes in U.S. economic policies and increasing visibility of the crypto industry.
