Deribit Exchange Settles $27 Billion in Bitcoin and Ethereum Options, Creating Major Volatility Catalyst
Deribit, one of the world's largest crypto options exchanges, settled $27 billion worth of Bitcoin and ethereum contracts today. Bitcoin is holding near $88,000 while Ethereum struggles at $2,950 as traders brace for potential price swings. The sheer scale of this expiry—268,000 BTC options alone—creates a volatility catalyst rarely seen in crypto markets.
Market positioning suggests bullish sentiment prevails. The put-to-call ratio of 0.38 reveals more traders are betting on upside than downside. Bitcoin's 'max pain' price—where most option holders face losses—hovered around $96,000, often acting as a temporary magnet during expiry periods.
Technical analysts note Bitcoin's resilience below $86.5K signals strong support, but repeated rejections at $90K expose persistent selling pressure. 'This is the line in the sand,' says one derivatives trader. 'Either we break through and chase $100K, or we retest the mid-$80Ks.'
