Deribit Exchange Sees Record $28B Crypto Options Expiry, Signaling Institutional Maturation
The cryptocurrency market is bracing for unprecedented volatility as nearly $28 billion worth of Bitcoin and Ethereum options contracts expire on the Deribit exchange. This marks the largest single-day expiry in crypto derivatives history, with 267,000 BTC options (put/call ratio 0.35) and 1.28 million ETH options (put/call ratio 0.45) settling simultaneously.
Max pain levels suggest potential price gravitation toward $95,000 for Bitcoin and $3,100 for ethereum as traders reposition portfolios. The dominance of quarterly contracts in open interest signals growing institutional participation, further cementing derivatives' influence on spot market movements.