Bitcoin (BTC) options worth $24 billion (approximately 35 trillion won) expire on the 26th.
Cointelegraph announced on the 25th (local time) through the official On the same day, Ethereum (ETH) options worth $6 billion (approximately 8.7 trillion won) also expire. Cointelegraph said, “The current positioning is a situation where a bearish strategy is dominant.”
The size of Bitcoin and Ethereum options maturing is worth $30 billion. CoinCare, a CryptoQuant contributor, said, “(On the 26th), active risk taking has been reduced due to seasonal factors at the end of the year where liquidity decreases and large-scale option expirations.” CoinDesk said, “More than half of Deribit’s total open interest (OI) will expire (on the 26th),” and “(currently) there are almost three times more call options than put options.”
Bitcoin price is moving sideways in the $87,000 range ahead of the expiration of large-scale options. According to CoinMarketCap, the price of Bitcoin has continued to trend sideways until today after falling to the $87,000 level on the 23rd. CW8900 CryptoQuant contributor analyzed, “Currently, call option open interest has reached the bottom level, while put option open interest is increasing rapidly. Usually, the increase in put options means increased downward pressure, but sometimes it acts as a signal suggesting a possible market reversal.”