$15 Billion in BTC and ETH Options Expire Today, Heightening Market Volatility
Quick Take Summary is AI generated, newsroom reviewed. Large put open interest around key Bitcoin levels adds downside risk. Large put open interest around key Bitcoin levels adds downside risk. Historical expiries of similar size caused 5–10% intraday swings. Market makers expected to rebalance aggressively, creating volatility. Traders brace for sharp price movement across spot and derivatives markets.References X Post Reference
Nearly $14.9 billion worth of Bitcoin and Ethereum options are set to expire today, marking one of the largest monthly expiries of 2025. The expiry event, dominated by positions on Deribit, is expected to inject heightened volatility into the market as traders rebalance, close, or roll over positions. The scale of the expiry has already fueled speculation across trading desks, with many anticipating wide price swings in both assets.
The options market plays a key role in determining short-term price direction for major cryptocurrencies. That process can amplify price movements, particularly when market sentiment is already fragile.
Bitcoin and Ethereum Face Price Pressure Ahead of Expiry
Bitcoin is trading below $80,000 ahead of the expiry, where significant open interest in put options has accumulated. According to recent analysis from CoinDesk, heavy put positioning at this level could increase downside pressure if options settle in-the-money, prompting additional selling or liquidations. Ethereum is facing similar dynamics, with large clusters of open interest around key psychological and technical levels.
This phenomenon, known as “pin risk,” often compels them to buy or sell large amounts of BTC and ETH to remain delta-neutral. In previous cycles, these adjustments have led to abrupt market swings, particularly in the hours leading up to expiry.
History Shows Expiry Events Drive Major Price Swings
Today’s $15 billion expiry is not unprecedented. In July 2025, a similarly large $14.6 billion options expiry triggered sharp intraday moves across the market. Bitcoin and Ethereum experienced swings of between 5% and 10% during that period as traders reacted to rapid shifts in leverage and liquidity. Analysts point to that event as a reminder that options expiries of this size often coincide with unstable price conditions.
Traders Brace for a Highly Reactive Market Environment
With nearly $15 billion in combined BTC and ETH options rolling off today, analysts expect increased activity across both spot and derivatives markets. Some traders will hedge aggressively to protect positions, while others may use the volatility as a trading opportunity.
Regardless of strategy, one expectation is universal: the next 24 hours are likely to bring significant price fluctuations. As options settle and leveraged positions unwind, Bitcoin and Ethereum could see rapid shifts in direction, creating a highly reactive environment for traders. The broader market is now watching closely to see whether the expiry event triggers a deeper correction or sparks a rebound driven by fresh repositioning.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu’s Focus on Privacy Aims to Draw DeFi Interest Amid Price Challenges
- Shiba Inu (SHIB) stabilizes near $0.00000851, with traders monitoring $0.000008390 support and $0.000008840 resistance amid a descending channel pattern since early 2025. - A 1.7% weekly gain contrasts with a 17.4% drop from its 14-day high, while $132.8M trading volume highlights uncertainty despite a privacy-focused Shibarium upgrade integrating Zama's FHE technology. - Technical indicators show fragile equilibrium, with bearish EMAs and $380K net outflows reinforcing distribution trends, though analys

Bitcoin News Update: Greenidge Transitions to AI as Bitcoin Mining Faces Rising Expenses and Regulatory Challenges
- Greenidge Generation , a Bitcoin miner, shifts to AI/HPC amid industry cost and regulatory pressures. - Bitcoin mining profitability declines as hashrate hits 1.16 ZH/s and hash prices fall below $35. - Companies like Bitfarms abandon Bitcoin for AI/HPC, while CleanSpark reports $766M mining revenue surge. - Regulatory scrutiny intensifies over foreign mining hardware, with BlockQuarry promoting domestic alternatives. - Energy costs and debt disputes force Tether to halt Uruguayan mining, highlighting se

Bitcoin News Update: Institutions Favor Bitcoin's Reliability as Altcoin Growth Slows
- Bitcoin's market dominance exceeds 54%, driven by waning altcoin momentum and institutional preference for stability. - Altcoin Season Index at 23 signals Bitcoin-centric trends as macroeconomic pressures and regulatory uncertainty weaken alternative cryptocurrencies. - Institutional investors prioritize Bitcoin's scalability and infrastructure, exemplified by Bhutan's Ethereum integration and Bitcoin Munari's fixed-supply presale model. - Analysts highlight Bitcoin's role as a macroeconomic barometer, w
MMT Token TGE: Is This the Dawn of a New Era for Digital Asset Foundations?
- MMT Token's 2025 TGE secured $100M valuation from Coinbase Ventures, OKX, and Jump Crypto, with 1330% price surge post-launch. - Momentum DEX on Sui reported $13B trading volume and $320M TVL, leveraging CLMM architecture and cross-chain RWAs for institutional appeal. - 55% of hedge funds now hold digital assets, driven by U.S. CLARITY Act and EU MiCA 2.0, as MMT's RWA focus bridges traditional and blockchain finance. - Despite macroeconomic risks like 34.6% post-TGE volatility, MMT's governance model an

