Billions in Bitcoin and Ethereum Options Hit Expiry
Over $2.5 billion in Bitcoin and Ethereum options are set to expire today, prompting close attention from investors anticipating potential short-term market moves.
A total of 27,657 Bitcoin contracts worth approximately $2.23 billion are due, with a put-to-call ratio of 0.86—indicating more traders have bet on BTC rising than falling. The “maximum pain” price, or the level at which the largest number of contracts would expire worthless, stands at $81,000. This price often signals where the market might gravitate to minimize payouts to contract holders.
Ethereum isn’t far behind. Around 183,468 ETH options worth $283.6 million are also expiring, showing a slightly more balanced put-to-call ratio of 0.92. For these, the maximum pain point is $1,700. As of now, both BTC and ETH are trading below those levels—at $80,622 and $1,543 respectively.
With volatility lingering and macroeconomic pressures like tariffs shaping investor sentiment, market participants are bracing for potential turbulence. Deribit, a major crypto derivatives exchange, raised the question of how these expiries might affect pricing behavior, particularly with tensions from recent trade policies still rippling through markets.
Looking ahead, Deribit analysts note a decline in near-term bullish sentiment. Demand for call options is waning and only begins to outpace puts again in contracts set to expire around September. This could point to cautious expectations and possible extended softness in prices.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
