Reports from Deribit indicate that 20,815 Bitcoin contracts, valued at $2.077 billion, will expire. Traders have sold more call options than puts, as reflected by the 0.83 put-to-call ratio. Bitcoin’s “maximum pain” point, where most traders could incur losses, is $98,000—slightly below the current spot price of $99,758.
On the Ethereum side, 164,330 options contracts worth approximately $644 million are set to expire. The put-to-call ratio for Ethereum is 0.68, echoing Bitcoin’s trend of more calls than puts.
This week, market movements have been cautious with corrections in both Bitcoin and altcoins. Market makers are readjusting their positions in view of the upcoming holidays, analysts say, which could mean volatility in the next weeks.
BTC changes hands below US$100,000 while ETH hovering around US$4,000. Implied volatility stands slightly higher, which for analysts at Greeks.Live makes options ideally positioned for short-term strategies.
This expiry follows a week of critical U.S. economic updates, including a rise in inflation to 2.7% in November. While many expect a Fed rate cut, persistent inflation complicates monetary policy decisions.
Investors are now speculating whether the market will see a Christmas rally amid these uncertain conditions.
