{"id":54573,"date":"2025-10-24T05:18:50","date_gmt":"2025-10-24T05:18:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=54573"},"modified":"2025-10-24T05:18:50","modified_gmt":"2025-10-24T05:18:50","slug":"how-will-markets-react-to-5b-bitcoin-options-expiring-today","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=54573","title":{"rendered":"How Will Markets React to $5B Bitcoin Options Expiring Today?"},"content":{"rendered":"<div>\n<p>Around 47,000 Bitcoin options contracts will expire on Friday, Oct. 24, and they have a notional value of roughly $5.1 billion.<\/p>\n<p>This expiry event is a little <a href=\"https:\/\/cryptopotato.com\/will-markets-keep-falling-when-4-8b-bitcoin-options-expire-today\/\">larger<\/a> than last week\u2019s, but there is unlikely to be any impact on spot markets, which have been mostly sideways in the past several days.<\/p>\n<p>The US government remains in a shutdown, and a delayed September CPI inflation report is due today, which could induce volatility, especially if it comes in hotter than expectations, currently 3.1%.<\/p>\n<h2>Bitcoin Options Expiry<\/h2>\n<p>This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 1.03, meaning that long contracts and shorts are evenly matched. Max pain is around $114,000, according to Coinglass.<\/p>\n<p>Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, is highest at $120k, $130k, and $140k, which have topped $2 billion at these strike prices on Deribit. There is also over $2 billion in OI at $100k targeted by short sellers.<\/p>\n<p>Total BTC options OI across all exchanges is at an all-time high of $63 billion, according to Coinglass. <!--StartFragment -->Bitcoin options open interest just hit an all-time high of $50B on Deribit, <!--EndFragment -->the company reported on Friday.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Options Expiry Alert <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><br \/>\nOver $6B in BTC and ETH options expire tomorrow at 8:00 UTC on Deribit.<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>: Put\/Call: 1.03 | Max Pain: $114K<br \/>\nPositioning is balanced, with puts outweighing calls a bit. Traders are hedging downside but not positioning for a major selloff.<a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>:\u2026 <a href=\"https:\/\/t.co\/qX7eVSQfgK\">pic.twitter.com\/qX7eVSQfgK<\/a><\/p>\n<p>\u2014 Deribit (@DeribitOfficial) <a href=\"https:\/\/twitter.com\/DeribitOfficial\/status\/1981310875450384407?ref_src=twsrc%5Etfw\">October 23, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>BTC price is holding around $108k, even as BTC futures OI fell 20% to 25% in the past couple of weeks, and Bitcoin options OI now exceeds it by around $40 billion, <a href=\"https:\/\/x.com\/DeribitOfficial\/status\/1981083967299473646\">reported<\/a> Deribit on Thursday.<\/p>\n<blockquote>\n<p>\u201cThe derivatives trading structure seems to be rotating from high-leverage to hedging.\u201d<\/p>\n<\/blockquote>\n<p>Crypto derivatives provider Greeks Live remains predominantly bearish on crypto, with traders <a href=\"https:\/\/x.com\/GreeksLive\/status\/1980610135014703533\">expressing<\/a> frustration over their positions.<\/p>\n<blockquote>\n<p>\u201cKey focus is on BTC\u2019s struggle around $112k with multiple traders noting crypto is lagging behind gold and equities, while AWS outage temporarily halted Coinbase trading and complicated institutional buying.\u201d<\/p>\n<\/blockquote>\n<p>In addition to today\u2019s batch of Bitcoin options, around 193,000 Ethereum contracts are also expiring, with a notional value of $749 million, max pain at $3,950, and a put\/call ratio of 0.78. Total ETH options OI across all exchanges is around $15 billion. This brings Friday\u2019s combined crypto options expiry notional value to around $5.8 billion.<\/p>\n<h2>Spot Market Outlook<\/h2>\n<p>The crypto market capitalization has increased by 1.8% over the past 24 hours to reach $3.8 trillion.<\/p>\n<p>Bitcoin (BTC) has <a href=\"https:\/\/cryptopotato.com\/global-m2-growth-signals-bitcoin-bull-market-intact-despite-october-crash-says-vaneck\/\">led<\/a> the move with a brief spike above $111,000 in late trading on Thursday before retracing slightly on Friday morning. ETH, SOL, and BNB have posted impressive gains.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/how-will-markets-react-to-5b-bitcoin-options-expiring-today\/\">How Will Markets React to $5B Bitcoin Options Expiring Today?<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Around 47,000 Bitcoin options contracts will expire on Friday, Oct. 24, and they have a notional value of roughly $5.1 billion. This expiry event is a little larger than last week\u2019s, but there is unlikely to be any impact on spot markets, which have been mostly sideways in the past several days. The US government [&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-54573","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\/54573","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=54573"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/54573\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}