Crypto Market Braces for Billions in Expired Options

A major event is unfolding in the crypto derivatives market today as $6.09 billion in Bitcoin (BTC) options and $920 million in Ethereum (ETH) options are set to expire on Deribit at 8:00 a.m. UTC.

The expiry, one of the largest scheduled for this month, could inject volatility into the crypto market as positions are settled and traders adjust their portfolios.

According to data from Deribit, the put-to-call ratio for the expiring Bitcoin options stands at 1.03, indicating a near-even split between bearish and bullish bets. For Ethereum, the put-to-call ratio is 0.98, reflecting a slightly more bullish tilt.