{"id":600051,"date":"2024-03-28T01:00:09","date_gmt":"2024-03-28T01:00:09","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=600051"},"modified":"2024-06-11T07:21:49","modified_gmt":"2024-06-11T07:21:49","slug":"9-5-billion-in-bitcoin-options-poised-to-expire","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/9-5-billion-in-bitcoin-options-poised-to-expire\/","title":{"rendered":"$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?"},"content":{"rendered":"

This Friday, the spotlight is turned to Deribit, the leading crypto derivatives exchange, as it gears up for a notable event in its trading history. Particularly, the exchange is poised<\/a> to witness the expiration of over $9.5 billion in Bitcoin options open interest.<\/span><\/p>\n

For context, <\/span>Open interest refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled or closed. It represents the number of contracts market participants hold at the end of each trading day.\u00a0<\/span><\/p>\n

This surge in open interest recorded by Deribit reflects increased market participation and signals heightened liquidity, marking a notable milestone in the crypto derivatives landscape.<\/span><\/p>\n

Related Reading: Bitcoin\u2019s \u2018Next Leg Higher Has Started,\u2019 Says Analyst: Reveals $100,000 Target On The Horizon<\/a><\/div>\n

Record-Breaking Open Interest<\/h2>\n

Notably, this event is significant in two ways: It underscores the growing interest in Bitcoin as an asset class and highlights the increasing \u201csophistication\u201d of the cryptocurrency market. This is because <\/span>Open interest can also serve as a critical indicator of market health and trader sentiment.\u00a0<\/span><\/p>\n

As such, the record levels of open interest set to expire on Deribit suggest a \u201cvibrant\u201d trading environment<\/a>, with more investors engaging in complex financial instruments<\/a> like options.<\/span><\/p>\n

According to Deribit data, the exchange is set to host one of its largest option expiries ever, with $9.5 billion worth of Bitcoin options poised for expiry at the end of the month. This figure represents a substantial portion, approximately 40%, of the exchange’s total options open interest, which stands at $26.3 billion.\u00a0<\/span><\/p>\n

\"Bitcoin
Bitcoin Open Interest By Expiration. | Source: Deribit<\/a><\/figcaption><\/figure>\n

The magnitude of this expiry event eclipses previous months, with January and February end-of-month expiries totaling $3.74 billion and $3.72 billion, respectively. This trend indicates a large increase in market activity and investor engagement on the platform.<\/span><\/p>\n

Implications Of The Bitcoin Expiry<\/h2>\n

The upcoming expiry has notable implications for the market, especially considering the current pricing dynamics of Bitcoin. <\/span><\/p>\n

With Bitcoin’s spot price<\/a> hovering below $70,000, an estimated $3.9 billion of the open interest is expected to expire “in the money,” according to Deribit analysts<\/a>, presenting profitable opportunities for holders of these options contracts.\u00a0<\/span><\/p>\n

The “max pain” price, which represents the strike price at which the highest number of options would expire worthless, thereby causing the maximum financial loss to option holders, is identified at $50,000.<\/span><\/p>\n

\"Bitcoin
Bitcoin Open Interest by Strike Price. | Source: Deribit<\/a><\/figcaption><\/figure>\n

According to the analysts, this scenario suggests that a significant number of traders are positioned to benefit from the current market conditions, potentially leading to \u201cincreased buying activity\u201d as these options are exercised.<\/span><\/p>\n

Additionally, Deribit analysts speculate that the high level of “in-the-money expiries” could exert upward pressure on Bitcoin’s price or amplify market volatility. They added that as traders “hedge their positions” or “speculate on future price movements,” the market may witness a flurry of activity, impacting Bitcoin’s price trajectory<\/a> in the short term.<\/p>\n

Related Reading: Beyond Bitcoin ETFs: \u2018There Are Other Players Controlling This Market\u2019 \u2013 Says Analyst<\/a><\/div>\n

This comes at a time when Bitcoin has experienced a slight retracement from its recent all-time high above $73,000, with the price adjusting to approximately $68,946,<\/a> at the time of writing<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USD on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

This Friday, the spotlight is turned to Deribit, the leading crypto derivatives exchange, as it gears up for a notable event in its trading history. Particularly, the exchange is poised to witness the expiration of over $9.5 billion in Bitcoin options open interest. For context, Open interest refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled or closed. It represents the number of contracts market participants hold at the end of each trading day.\u00a0 This surge in open interest recorded by Deribit reflects increased market participation and signals heightened liquidity, marking a notable milestone in the crypto derivatives landscape. Related Reading: Bitcoin\u2019s \u2018Next Leg Higher Has Started,\u2019 Says Analyst: Reveals $100,000 Target On The Horizon Record-Breaking Open Interest Notably, this event is significant in two ways: It underscores the growing interest in Bitcoin as an asset class and highlights the increasing \u201csophistication\u201d of the cryptocurrency market. This is because Open interest can also serve as a critical indicator of market health and trader sentiment.\u00a0 As such, the record levels of open interest set to expire on Deribit suggest a \u201cvibrant\u201d trading environment, with more investors engaging in complex financial instruments like options. According to Deribit data, the exchange is set to host one of its largest option expiries ever, with $9.5 billion worth of Bitcoin options poised for expiry at the end of the month. This figure represents a substantial portion, approximately 40%, of the exchange’s total options open interest, which stands at $26.3 billion.\u00a0 The magnitude of this expiry event eclipses previous months, with January and February end-of-month expiries totaling $3.74 billion and $3.72 billion, respectively. This trend indicates a large increase in market activity and investor engagement on the platform. Implications Of The Bitcoin Expiry The upcoming expiry has notable implications for the market, especially considering the current pricing dynamics of Bitcoin. With Bitcoin’s spot price hovering below $70,000, an estimated $3.9 billion of the open interest is expected to expire “in the money,” according to Deribit analysts, presenting profitable opportunities for holders of these options contracts.\u00a0 The “max pain” price, which represents the strike price at which the highest number of options would expire worthless, thereby causing the maximum financial loss to option holders, is identified at $50,000. According to the analysts, this scenario suggests that a significant number of traders are positioned to benefit from the current market conditions, potentially leading to \u201cincreased buying activity\u201d as these options are exercised. Additionally, Deribit analysts speculate that the high level of “in-the-money expiries” could exert upward pressure on Bitcoin’s price or amplify market volatility. They added that as traders “hedge their positions” or “speculate on future price movements,” the market may witness a flurry of activity, impacting Bitcoin’s price trajectory in the short term. Related Reading: Beyond Bitcoin ETFs: \u2018There Are Other Players Controlling This Market\u2019 \u2013 Says Analyst This comes at a time when Bitcoin has experienced a slight retracement from its recent all-time high above $73,000, with the price adjusting to approximately $68,946, at the time of writing Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":599876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11434,678,1119,78790,6664,67895,54146],"class_list":["post-600051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-analyst","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-deribit","tag-open-interest"],"acf":[],"yoast_head":"\n$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?<\/title>\n<meta name=\"description\" content=\"This Friday, the spotlight is turned to Deribit, as it gears up for a notable Bitcoin event in its trading history. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?","description":"This Friday, the spotlight is turned to Deribit, as it gears up for a notable Bitcoin event in its trading history. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?","url":"http:\/\/shenyangcang.com\/news\/9-5-billion-in-bitcoin-options-poised-to-expire\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/9-5-billion-in-bitcoin-options-poised-to-expire\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/photo-41-c8ee93618c9a.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/photo-41-c8ee93618c9a.jpg?fit=900%2C599"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analyst","bitcoin prediction","btc","btcusdt","crypto","deribit","open interest"],"dateCreated":"2024-03-28T01:00:09Z","datePublished":"2024-03-28T01:00:09Z","dateModified":"2024-06-11T07:21:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/9-5-billion-in-bitcoin-options-poised-to-expire\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/9-5-billion-in-bitcoin-options-poised-to-expire\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/photo-41-c8ee93618c9a.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/photo-41-c8ee93618c9a.jpg?fit=900%2C599\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analyst\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\",\"deribit\",\"open interest\"],\"dateCreated\":\"2024-03-28T01:00:09Z\",\"datePublished\":\"2024-03-28T01:00:09Z\",\"dateModified\":\"2024-06-11T07:21:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/photo-41-c8ee93618c9a.jpg?fit=900%2C599","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/600051"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=600051"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/600051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/599876"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=600051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=600051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=600051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}