$4.8 Billion in Bitcoin Contracts, $2.3 Billion in Ethereum Opti
According to the data, a total of 158,774 Bitcoin contracts worth $4.8 billion and 1.23 million Ethereum options worth $2.3 billion will expire on the Deribit exchange in June, the second quarter and the first half of the year. According to data from Deribit, Bitcoin’s biggest pain point is priced at $26,000. Ethereum price is at $1,700.
Luuk Strijers, chief commercial officer at Deribit, said that while June expirations are common, the upcoming expiration has drawn attention due to the recent Bitcoin rally to around $30,000. In June 2022, Deribit only has around 90,000 Bitcoin contracts expiring. It's going to be very exciting because there's going to be some pressure in either direction, if bitcoin goes up it's likely to be pushed higher as market makers will buy to offset their short positions, and if bitcoin goes down, It will fall faster because they will sell.
Luuk Strijers, chief commercial officer at Deribit, said that while June expirations are common, the upcoming expiration has drawn attention due to the recent Bitcoin rally to around $30,000. In June 2022, Deribit only has around 90,000 Bitcoin contracts expiring. It's going to be very exciting because there's going to be some pressure in either direction, if bitcoin goes up it's likely to be pushed higher as market makers will buy to offset their short positions, and if bitcoin goes down, It will fall faster because they will sell.
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