Deribit Exchange Braces for Record $15B Bitcoin Options Expiry – Market Impact Ahead?

Approximately 140,000 Bitcoin options contracts with a notional value of $15 billion are set to expire on June 27, marking a significant end-of-month and end-of-quarter event. Market analysts anticipate potential ripple effects on spot prices, which have been recovering since Monday’s downturn. Bitcoin remains the standout performer, though momentum appears to be fading as the week concludes.

The put/call ratio of 0.74 indicates a dominance of long sellers, with a max pain point at $102,000—$5,000 below current spot levels. Open interest peaks at the $140,000 strike price, totaling $1.7 billion, followed by $120,000. Bearish sentiment is rising, evidenced by growing OI at $85,000 and $95,000. Deribit reports record-breaking bitcoin options open interest at $40 billion.

Tomorrow’s expiry includes $17 billion in BTC and ETH options on Deribit, the largest this year. Ethereum’s $2.3 billion notional expiry features a put/call ratio of 0.52 and max pain at $2,200. The market now watches whether Q3 will begin with a breakout or a reset.