markets··1 min read
Bitcoin Options Worth $13B Set to Expire as Bears Retain Advantage
A record $13 billion in Bitcoin options is expiring, with bearish positioning suggesting potential downward pressure.
A massive $13 billion in Bitcoin options contracts is scheduled to expire on June 28, marking one of the largest monthly expiries in history. The data, provided by Deribit and other major exchanges, shows a put/call ratio favoring bearish positions, indicating that options traders expect continued downside for Bitcoin.
Bearish Sentiment Dominates
- The total open interest for the June expiry stands at approximately $13 billion, with put options outweighing calls.
- The put/call ratio is currently above 1.0, suggesting more traders are positioning for a price decline.
- Max pain price, where most options expire worthless, is estimated around $65,000, significantly below current spot levels.
This expiry comes amid a broader market downturn, with Bitcoin trading near $70,000 at the time of writing. Traders will be watching closely to see if the expiry intensifies selling pressure or if a relief rally emerges once the contracts are settled.