‘Bitcoin and Ethereum’While volatile movements continue to occur in Turkey, three-month option contracts are about to expire.
According to this, BTC and ETH options worth $15.2 billion will expire tomorrow on Deribit, the world’s leading cryptocurrency options exchange.
While Deribit data reveals that the $15 billion figure is one of the largest maturities in the history of the stock market, it will be closed on Friday, that is, most tomorrow. BTC and ETH It also shows that the option will end in profit.
Speaking to Coindesk, while a large amount of options in BTC and ETH are expected to expire tomorrow. Deribit chief trading officer Luuk Strijers said: He said that this situation could cause pressure and high volatility on the BTC price.
“A large amount of options expire tomorrow and most will be in the money (ITM). This may cause upward pressure or volatility in the market.
Bitcoin options worth $3.9 billion, with a market cap of approximately $70,000, will expire. This represents 41% of the $9.5 billion of total three-month open interest due. Similarly, according to Deribit data, 15% of the three-month total open positions in ETH of $5.7 billion are about to expire.
These levels are higher than normal. The reason for this is, of course, the recent price increase. “The fact that most of their options expire in high profits could lead to potential upside pressure or volatility in the relevant asset.”
Deribit manager finally BTC and ETHPointing out that the maximum loss points for the three-month maturity of the “Although Bitcoin and Ethereum experienced post-expiration corrections during the recent bull market, they consistently corrected shorter and lower towards their maximum loss points to maintain their rallies.” said.
*This is not investment advice.
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