Bitcoin Options Expiration Event Expected to have Minimal Market Impact
As Bitcoin options contracts expire on Friday, traders are bracing for minimal market impact. Approximately 16,500 Bitcoin options contracts valued at $1.6 billion are set to expire this week, making it one of the smallest expiration events this year.
The current batch of Bitcoin options exhibits a put/call ratio of 0.75, indicating a slight dominance of call (long) contracts over puts (shorts). Deribit reports that open interest remains highest at the $120,000 strike price, totaling $1.8 billion, with $1.2 billion open at the $110,000 strike.
Crypto derivatives specialist Greeks Live described market sentiment as 'cautiously bearish' earlier this week, with traders facing challenges due to low volatility. Deribit confirmed this in its weekly Insights report, noting a decline in strong directional sentiment due to recent stagnant spot market trends.