Will Huge $15 Billion Bitcoin Options Expiry Impact Crypto Markets? 

Round 140,000 Bitcoin choices contracts will expire on Friday, June 27, they usually have a notional worth of roughly $15 billion.

This event is a giant one, being the tip of the month and finish of the second quarter, so there could possibly be an influence on spot markets. They’ve been recovering since Monday’s crash, however Bitcoin is admittedly the one asset that has seen notable positive aspects, and momentum was waning because the week ended.

Bitcoin Choices Expiry

This week’s tranche of Bitcoin choices contracts has a put/name ratio of 0.74, that means that there are extra lengthy sellers than shorts. There’s additionally a max ache level of $102,000, round $5,000 under present spot costs, which is the place most losses will likely be made on contract expiry.

Open curiosity (OI), or the worth or variety of BTC choices contracts but to run out, is highest on the $140,000 strike worth, with greater than $1.7 billion, and $120,000 can also be a scorching stage. Nevertheless, OI has additionally elevated to over $1.5 billion at $85,000 and $95,000 as bearish speculators enhance, according to Deribit.

“Bitcoin choices open curiosity on Deribit simply hit an all-time excessive, $40 billion and counting,” the agency said on X.

H1 Expiry Incoming

Over $17B in BTC & ETH choices are set to run out tomorrow on Deribit, the most important of the 12 months to this point.$BTC: $15B notional | Put/Name: 0.74 | Max Ache: $102K$ETH: $2.3B notional | Put/Name: 0.52 |Max Ache: $2,200

Will Q3 begin with a breakout or reset?… pic.twitter.com/ye92lhXP4Z

— Deribit (@DeribitOfficial) June 26, 2025

In its weekly market update, crypto derivatives supplier Greeks Dwell mentioned the group “skilled a risky session with combined sentiment, as merchants navigated by way of war-related information and faux ceasefire studies that brought on vital market whipsaws.”

“Key ranges being watched embrace $104,800 the place the pump originated and $108,000 calls as a consolation zone, with merchants break up between anticipating continued draw back or acknowledging bullish momentum.”

The agency added that technical evaluation suggests “BTC might go larger on technicals alone.”

Along with right this moment’s Bitcoin choices, there are round 940,000 Ethereum contracts which are additionally expiring, with a notional worth of $2.3 billion, a max ache level of $2,200, and a put/name ratio of 0.52. This brings Friday’s mixed crypto choices expiry notional worth to round $17.3 billion.

Crypto Market Replace

Complete market capitalization has retreated 2.5% this Friday, falling slightly below $3.4 trillion on the time of writing. Nevertheless, it stays inside a two-month sideways buying and selling channel.

Bitcoin did not surpass resistance at $108,000 and had fallen again to the $107,000 space through the Friday morning Asian buying and selling session, although it was wanting resilient, having recovered from its Monday crash to $98,500.

Ethereum costs had been nonetheless stagnant, with the asset failing to interrupt resistance on the former assist worth stage of $2,500.

The altcoins had been predominantly within the crimson with bigger losses for XRP, Solana, Sui, and Hedera.