Deribit Exchange Sees Record $27 Billion BTC and ETH Options Expire Without Major Market Disruption
The cryptocurrency market experienced its largest-ever options expiry, with $27 billion in Bitcoin and Ethereum contracts settling on the Deribit exchange. Despite the historic scale, the event concluded with minimal volatility, a characteristic of the subdued holiday trading environment.
Bitcoin options accounted for $23.6 billion of the total, while ethereum made up $3.8 billion—clearing over half of Deribit's open interest. Prices remained stable post-expiry, with BTC hovering around $88,500 and ETH near $2,960, both marking modest 1.5% gains.
The orderly expiry alleviates potential selling pressure on Bitcoin, potentially setting the stage for heightened price discovery and volatility in the coming months. Traders are now looking toward early January for renewed liquidity and upside momentum, particularly if ETF inflows resume amid favorable regulatory developments.
