$15.6 Billion in Bitcoin Options Expires Without Causing Market Mayhem
Roughly $15.6 billion of Bitcoin options expired on Deribit on September 25 without causing significant price fluctuations. Bitcoin traded around $83,600 after the settlement, below its recent high but still above its earlier trading range.
XRP and Solana continued to outperform Bitcoin over the week, with XRP up roughly 15% across seven days and Solana gaining around 9%. This divergence suggests that the expiry was not producing a broad flight from crypto risk.
The large derivatives event has now passed, and Bitcoin's next move should depend less on traders managing that expiry and more on whether buyers are willing to keep supporting the rally without it. Dealer hedging can influence short-term trading, but spot demand, macro conditions, ETF flows, and broader positioning continue to matter.