On Friday, as more than 77,000 BTC derivative contracts worth more than $4 billion are about to expire, the Bitcoin options market will expire in large numbers. The largest share of bitcoin options comes from the derivatives trading platform Deribit, as the exchange today has more than $11 billion in open positions.
The hot Bitcoin options market continues to bubble, traders are shocked by the greatest pain
In recent weeks, the crypto derivatives market, especially futures, perpetual swaps, and options have continued to be in strong demand. As far as options are concerned, a large number of put options and call options will expire in two days, and more than 12 hours from now. On April 26, data analysis company Skew.com tweeted 77,000 BTC worth more than $4 billion, which will expire this week.
“The 77k Bitcoin option expires this week,” Skew Tweet. “The US$50,000 and US$52,000 strikes are pretty good,” the analytics provider further said famous.
“Compared with other expiration dates, this is a very huge indicator and may have a significant impact on the market,” one person Reply Skewed tweets. Data from the main web portal of Skew.com and Deribit’s order book shows that Deribit has experienced a large expiration.
After Deribit’s BTC option holdings became too heavy, the demand from exchanges such as Bit.com, Okex, Ledgerx, CME and Huobi continued to increase. The data shows that the most money an option player can lose is approximately $54,000. If the expiration reaches the “maximum pain” inflection point, the market may see Bitcoin option sellers get the most rewards. In terms of daily trading volume of Bitcoin options, Deribit is also the largest in this field.
Crypto Exec warns against drawing conclusions from short-term price fluctuations
Industry executives and analysts believe that Bitcoin (BTC) will have great growth in terms of the spot market. The ups and downs of leading crypto assets provide critics with an opportunity to combat the volatility of the cryptocurrency. Paolo Ardoino, Bitfinex’s chief technology officer, told Bitcoin.com News that people should not draw conclusions about short-term actions.
“Critics breathed a sigh of relief from Bitcoin’s recent decline and may realize that it is foolish to draw any conclusions from short-term short-term price fluctuations,” Ardoino told Bitcoin.com News. He added: “In a similar way, those who compare Bitcoin to a header or Ponzi scheme should reconsider their views.”
The rapid development of technological innovation has laid the foundation for a new decentralized world. Those whose thinking and solution patterns are intertwined may collapse due to quicksand.
At the same time, despite the rebound in the spot market, derivatives contracts from Bitcoin futures and options remain in a bubble. Analytical data from Skew shows that open positions in futures also continue to see demand.
Binance is leading the competition in the Bitcoin futures market, followed by Bybit, Okex, CME and FTX Exchange with open positions of one billion dollars. Skew revealed on April 21 that in terms of Bitcoin futures, CME Group has a large trading volume.
The analysis provider said: “On Monday, the Chicago Mercantile Exchange (CME) ether futures trading volume hit a record high.”
What do you think about the expiration of the $4 billion bitcoin option on Friday? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Skew.com, Twitter,
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