- Cointelegraph said that on the 26th $24 billion Bitcoin options and $6 billion Ethereum options will expire.
- A CryptoQuant contributor said current Bitcoin and Ethereum options positioning favors bearish strategies, and risk-taking has been curtailed due to year-end liquidity reduction.
- More than half of Deribit's open interest is approaching expiry, and put option open interest is increasing, suggesting both increased downward pressure and the possibility of a market reversal.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
$24 billion (about 35 trillion won) worth of Bitcoin (BTC) options will expire on the 26th.
Cointelegraph said via its official X account on the 25th (local time), "This Friday (26th) a $24 billion Bitcoin options expiry is due." On the same day, $6 billion (about 8.7 trillion won) worth of Ethereum (ETH) options will also expire. Cointelegraph said, "Current positioning favors bearish strategies."
The Bitcoin and Ethereum options approaching expiry total $30 billion. A CoinCare (CryptoQuant) contributor said, "(On the 26th) seasonal year-end factors that reduce liquidity combined with the large options expiry have led to subdued active risk-taking." CoinDesk said, "More than half of Deribit's total open interest (OI) will expire (on the 26th)," and "(Currently) call options are nearly three times more numerous than put options."
Bitcoin's price is trading sideways in the $87,000 range ahead of the large options expiry. According to CoinMarketCap, Bitcoin's price slumped into the $87,000 range on the 23rd and has remained in a sideways pattern since. CW8900, a CryptoQuant contributor, said, "Currently, call option open interest has reached trough levels while put option open interest is rapidly increasing," adding, "Typically, an increase in put options indicates increased downward pressure, but it can also act as a signal hinting at a potential market reversal."
