Ethereum
Bitcoin and Ethereum have $15 billion in options expiring today
A development that could lead to upward volatility in the asset market, Bitcoin (BTC) and Ethereum (ETH) both have $15 billion worth of options set to expire on Friday, March 29. Indeed, the Deribit options exchange is expected to sell Bitcoin options worth $9.5 billion. Alternatively, they will also settle Ether options worth $5.7 billion.
According to experts, the expiration of BTC and ETH options that takes place every quarter could infuse the market with a bullish price movement. Additionally, these options will officially expire at 08:00 UTC.
JUST IN: $15,100,000,000 #Bitcoin & Ethereum options expire today.
– Watcher.Guru (@WatcherGuru) March 29, 2024
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$15 billion in BTC and ETH options set to expire
The digital asset market has been one of the most interesting in the financial sector so far in 2024. Bitcoin saw its price skyrocket following the approval of Spot ETFs in January. Ultimately, the asset reached an all-time high of $73,000 this month.
On the other hand, Ethereum has been in the spotlight as the next asset likely to receive Spot ETF approval in the United States. However, he is also the subject of a legal campaign led by the United States Securities and Exchange Commission (SEC) as it seeks to challenge the security status of the assets.
Read also: Loyalty Files for Spot Ethereum ETF with Staking
These developments further strengthen both strengths as industry leaders. Now they will face another interesting reality, as Bitcoin and Ethereum both have $15 billion in options expiring today.
Specifically, Deribit, the leading cryptocurrency options exchange on the planet, notes the quarterly settlement of options contracts. For Bitcoin, $9.5 billion will expire. This figure also represents 62% of total open interest. The rest is made up of Ethereum, which will see $5.7 billion worth of options contracts expire.
Talk to Coin Office, Luuk Strijers, Commercial Director of Deribit, discussed the options. specifically, he noted that most options will expire in the money. Subsequently, there could be further upward pressure spreading through the market.