{"id":20537,"date":"2025-04-04T05:01:44","date_gmt":"2025-04-04T05:01:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20537"},"modified":"2025-04-04T05:01:44","modified_gmt":"2025-04-04T05:01:44","slug":"crypto-options-traders-turn-bearish-as-2-5b-expiry-event-looms","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20537","title":{"rendered":"Crypto Options Traders Turn Bearish as $2.5B Expiry Event Looms"},"content":{"rendered":"<div>\n<p>Around 26,000 Bitcoin options contracts will expire on Friday, April 4, and they have a notional value of roughly $2.1 billion.<\/p>\n<p>This week\u2019s event is more modest than average and much smaller than last week\u2019s massive end-of-month and end-of-quarter expiry event.<\/p>\n<p>The impact on spot markets is likely to be minimal as spot traders are still <a href=\"https:\/\/cryptopotato.com\/bitcoin-price-plummets-to-82k-in-reaction-to-trump-tariffs\/\" data-wpel-link=\"internal\">reeling<\/a> from the Trump administration\u2019s wide-sweeping global tariff announcement on Wednesday.<\/p>\n<h2>Bitcoin Options Expiry<\/h2>\n<p>This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 1.27, meaning that there are more put (short) contracts expiring than calls (longs). There is also a max pain point of $85,000, which is where most losses will be made.<\/p>\n<p>Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, is falling at higher prices, with around $850 million at $90,000 and $100,000 strike prices, <a href=\"https:\/\/www.deribit.com\/statistics\/BTC\/metrics\/options\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Deribit.<\/p>\n<p>There is also more than $900 million in OI at the lower $80,000 strike price and over $700 million at $70,000 as derivatives traders lose confidence in higher prices and turn bearish on the longer time frames.<\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">Options Expiry Alert!<\/p>\n<p>Last week\u2019s quarterly expiry brought the heat, this week\u2019s setup is quieter, but positioning still matters.<\/p>\n<p>At 08:00 UTC tomorrow, ~$2.5B in crypto options are set to expire.<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$BTC<\/a>: $2.16B notional | Put\/Call: 1.27 | Max Pain: $85K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$ETH<\/a>: $371M\u2026 <a href=\"https:\/\/t.co\/zPezzcVn1B\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/zPezzcVn1B<\/a><\/p>\n<p>\u2014 Deribit (@DeribitOfficial) <a href=\"https:\/\/twitter.com\/DeribitOfficial\/status\/1907692843663237557?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">April 3, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Crypto derivatives provider Greeks Live said the group was \u201cpredominantly bearish, expecting continued choppy price action\u201d in an options market <a href=\"https:\/\/x.com\/GreeksLive\/status\/1907408244407964112\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">update<\/a> this week.<\/p>\n<blockquote>\n<p>\u201cTraders are positioning for more blood and four more years of chop with many selling calls, particularly at the $87k and $90k to $94k levels for April 4th expiry,\u201d it stated.<\/p>\n<\/blockquote>\n<p>Greeks noted the diminishing bullish sentiment, stating \u201cThere\u2019s skepticism about upward movement with one trader noting nobody is ready to \u2018bullieve\u2019 anymore.\u201d<\/p>\n<p>In addition to today\u2019s tranche of Bitcoin options, there are around 204,000 Ethereum contracts that are also expiring today, with a notional value of $372 million, a max pain point of $1,850, and a put\/call ratio of 1.32. This brings Friday\u2019s combined crypto options expiry notional value to around $2.5 billion.<\/p>\n<h2>Crypto Market Outlook<\/h2>\n<p>Spot markets have continued to retreat this week with a 6.5% decline in total capitalization since this time last Friday, dropping it to $2.75 trillion at the time of writing.<\/p>\n<p>Bitcoin <a href=\"https:\/\/cryptopotato.com\/are-trumps-tariffs-impacting-cryptocurrencies-as-expected-santiment-weighs-in\/\" data-wpel-link=\"internal\">remains weakened<\/a>, having fallen below $81,500 in an intraday low before a minor recovery. It reclaimed $83,000 but fell below it again during Friday morning trading in Asia, suggesting that further downside pressure remains.<\/p>\n<p>Ethereum is at bear market lows, having dumped below $1,800 again and trading at levels last seen in October 2023.<\/p>\n<p>Meanwhile, altcoins across the board continue to weaken as market sentiment turns bearish.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/crypto-options-traders-turn-bearish-as-2-5b-expiry-event-looms\/\" rel=\"nofollow\">Crypto Options Traders Turn Bearish as $2.5B Expiry Event Looms<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Around 26,000 Bitcoin options contracts will expire on Friday, April 4, and they have a notional value of roughly $2.1 billion. This week\u2019s event is more modest than average and much smaller than last week\u2019s massive end-of-month and end-of-quarter expiry event. The impact on spot markets is likely to be minimal as spot traders are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20537","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20537"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20537\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}