As the cryptocurrency market approaches the end of the year, a major option expiration transaction is drawing attention. Particularly on the Deribit platform, a significant number of option contracts for Bitcoin and Ethereum will expire. These transactions, which will expire on December 29, include approximately $14 billion worth of Bitcoin and $3.84 billion worth of Ethereum contracts.$BTC
In Bitcoin options, 44% of total open positions will be closed as of this expiration date. Deribit CEO Luuk Strijers stated that the upward trend in the market has paused and leveraged long positions have increased. However, he noted that a possible sharp decline could increase risks in the market.
On the other hand, analysts predict that most of these large positions will be rearranged for January and March. It is stated that approximately $4 billion of the positions to be opened could provide profit to Bitcoin owners. The expectation of volatility in the market is quite high.
Ethereum$ETH
On the other hand, the situation is different. According to research analysts, the Ethereum options market is generally observed to be bearish. Changes in put-call rates and low values of call options indicate a more cautious approach to Ethereum.
Analysts emphasize that risk perception has increased, especially for Ethereum’s native token. The Ethereum market, which has shown a weaker performance compared to Bitcoin, requires investors to act with caution.
These major expiration transactions could lead to significant changes for crypto markets. At a time when bullish positions are strong in Bitcoin, Ethereum is expected to experience increased pressure. Given the high volatility and market uncertainty, it is important for investors to remain cautious.