Alert 🚨 🚨 Record $14B Bitcoin Options Expiry Looms as Market Looks Highly Levered-Up 🔥 🔥
As 2024 draws to a close, the cryptocurrency market is bracing for one of its most significant events—Friday's record $14 billion Bitcoin options expiry. This massive expiry is set to represent a staggering 44% of the total expiry-wide open interest on Deribit, marking the largest options expiry in the exchange's history.
Among the expiring options, an estimated $4 billion are positioned to expire in-the-money, signaling a potential for significant market volatility. The build-up to this event has created a highly levered-up market, where traders' positions and expectations are amplified, adding to the uncertainty surrounding Bitcoin's future price direction.
Volatility metrics, like vol-of-vol, highlight directional uncertainty as we approach Friday’s expiry. Traders are wary of the potential for sharp price movements in either direction, while Ethereum (ETH) appears to have a more bearish outlook compared to Bitcoin.
With this massive expiry looming, the crypto world is in for an intriguing and potentially volatile conclusion to the year. As market participants prepare for the fallout, all eyes will be on the Bitcoin options market to see how it impacts price action in the days ahead.
