Deribit $4.1B Bitcoin & Ethereum Options Expiry to Drive Volatility
Deribit sees a combined $4.1 billion of Bitcoin and Ethereum options expire today, including $3.5 billion in BTC contracts and $565 million in ETH. Bitcoin price dipped 1.2% to $102,446 ahead of the BTC options expiry, triggering over $105 million in long liquidations. Put-call ratios stand at 1.19 for BTC—signaling bearish skew—and 0.63 for ETH—indicating bullish flows. Bulls must defend the $100,000 support level to avert further liquidity cascades. Traders should monitor open interest resets, volatility spikes, and shifts in market positioning. Looking ahead, a larger $14.2 billion BTC options expiry on June 27 with a $100,000 max pain level could spark short-covering squeezes if Bitcoin holds above that zone.
Bearish
The news highlights a notable BTC price drop, elevated long liquidations and a bearish put-call skew around the $4.1 billion expiry, indicating downside pressure. Although ETH shows bullish flows, Bitcoin traders face critical support at $100K and a looming $14.2 billion expiry on June 27, which may further amplify selling or short-covering. These factors point to short-term bearish sentiment and heightened volatility as market participants adjust positions.