Bitcoin and Ethereum Options Expiry Set the Market Tone

The last few weeks of June have shown nimmense volatility in the cryptomarketsBitcoindippedbelowthe$62kmark.BitcoinandEthereumoptions

Cryptocurrency market analysts have pointed out that the upcoming expiration date may trigger market volatility. The value of options expiring on Deribit is $10 billion, with BTC options accounting for $6.68 billion and ETH options accounting for $3.5 billion. Expiration options are scheduled to expire on Friday, June 28, at 8:00 a.m. ET. These options allow the holder to buy or sell an underlying asset at a predetermined price before or on a specific date. On Deribit, each options contract corresponds to one BTC or ETH. According to Deribit data, total open interest is $10,823.9 billion, with $7,165.1 billion in call options and $3,658.8 billion in put options. BTC’s maximum pain point (the price at which options lose all value) is currently $57,000.

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