Deribit Exchange's $4.8B Options Expire, Focusing on Key Bitcoin and Ethereum Price Levels

Deribit Exchange News - Over $4.8 billion in cryptocurrency options will expire at Deribit Exchange at 16:00 Beijing time tomorrow, with Bitcoin contracts dominating. BTC options have a notional value of $3.83 billion, with a put/call ratio of 1.31, indicating bearish hedging activities in the market. Ethereum follows with $948 million in expiring contracts, with a put/call ratio of 0.82 reflecting relatively stronger bullish positions. Market makers' maximum pain points are at Bitcoin $118,000 and Ethereum $4,250, where option buyers would suffer the greatest losses if these levels are reached. During the final trading session before expiration, these key thresholds often become focal points for spot prices. This concentrated expiration may trigger increased market volatility as traders need to adjust positions or roll over contracts.