Deribit Exchange’s $3B Options Expiry Tests Bitcoin Rally Resilience
Today's $3 billion cryptocurrency options expiry on Deribit—dominated by $2.3 billion in Bitcoin contracts—has become a litmus test for the recent rally's durability. Ethereum's $430 million expiries maintained neutral positioning, reflecting cautious Optimism amid volatile liquidity conditions.
The event underscores growing institutional engagement with crypto derivatives, particularly as bitcoin flirts with key psychological levels. Market makers now face pressure to hedge or unwind positions, potentially amplifying short-term volatility.
Deribit's dominance in options trading highlights the platform's pivotal role in price discovery. Traders await post-expiry flows to determine whether spot markets can absorb the gamma unwind without significant dislocation.
