Today marks the expiration of more than $3.12 billion worth of Ethereum (ETH) and Bitcoin (BTC) options. This incident occurs while the cryptocurrency market continues to respond to recent economic events, such as additional tariffs that U.S. President Donald Trump has placed.
Deribit claims that Bitcoin options, which have a $2.56 billion total notional value, account for the majority of today’s expiry. With a put-to-call ratio of 0.57 for the 26,251 expiring contracts, there are more call options—bets on price increases—than put options—bets on falls. $99,500 is the maximum pain point, or the amount that most traders would lose.
There are 204,376 contracts of Ethereum options that expire today, having a $557.04 million notional value. The put-to-call ratio for these contracts is 0.46, and the maximum pain point of $2,950.
This week’s expiry is much smaller than last week’s, which saw over $10 billion in options expire. That event included monthly contracts, while today’s is a weekly expiry.
Market analysts at Greeks.live note that weak sentiment continues to weigh on crypto. Bitcoin stays under $100,000, and Ethereum barely survives above $3,000. The company also looked at the tariffs by Trump as one of the main elements behind market turbulence.
The US employment data later in the day can give further directions to the market. With an increase in global economic worries along with global trade policies, for days to come, volatility surge in the digital currencies might stay unabated.
