$6.4 Billion in Bitcoin Options Expire Tomorrow—Here's What It Means
$6.4 Billion in Bitcoin Options Expire Tomorrow—Here's What It Means
Hepworth flagged Bitcoin's 200-day moving average near $69,000 as the level worth watching if this week's pullback from the hot PCE print extends into Friday.
Big expiries don't automatically move Bitcoin's price. A $15 billion expiry in June 2025 carried a max pain of $102,000 with implied volatility at its lowest since October 2023, and Bitcoin barely budged. December's $13.3 billion Deribit expiry saw a similarly muted reaction despite max pain sitting near $100,000 to $102,000.
Friday's setup differs in where the pressure sits, not in how far max pain is from the spot price. Bitcoin is trading close enough to the $75,000 and $80,000 strikes to keep dealer hedging active, and the expiry lands alongside the rest of this week's catalysts, including Wednesday's spot Bitcoin and Ethereum ETF inflows and Friday's Jackson Hole speech from Warsh.
Deribit's contracts settle at 08:00 UTC Friday, roughly the same window Warsh takes the podium at Jackson Hole. September's options book is already tracking toward nearly double Friday's size, according to Hepworth, setting up a bigger test three weeks from now.
This article has been published in decrypt.co via Yahoo News.
$6.4 Billion in Bitcoin Options Expire Tomorrow—Here's What It Means
Deribit's Friday settlement covers nearly a fifth of the exchange's Bitcoin open interest, and max pain sits well below where BTC is trading right now.
finance.yahoo.com
