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Bitcoin Options Worth $15 Billion Are About To Expire
Nearly $15 billion U.S. worth of Bitcoin (CRYPTO: $BTC) options contracts are set to expire on derivatives exchange Deribit on March 27, an event that could trigger greater volatility.
The options expiration represents 40% of the $36.5 billion U.S. worth of Bitcoin open interest currently on the Deribit exchange.
Deribit is warning that it will see $17 billion U.S. in total options expire on March 27, including both Bitcoin and Ethereum (CRYPTO: $ETH).
The options contract expirations could lead to a spike in volatility. However, there are signs that traders have been steadily de-risking ahead of the March 27 expiry.
Large expiries in the past have led to significant moves in Bitcoin and Ethereum that ripple across the entire cryptocurrency market.
Last September, a $19 billion U.S. options expiration triggered the current downturn in Bitcoin’s price, which has declined more than 40% since October.
BTC is currently trading at $69,400 U.S. and has been unable to break above $75,000 U.S. in recent months.
This article has been published in benzinga.com via Yahoo News.
Bitcoin Options Worth $15 Billion Are About To Expire
Nearly $15 billion U.S. worth of Bitcoin (CRYPTO: $BTC) options contracts are set to expire on derivatives exchange...
finance.yahoo.com
