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Nearly $3B in Bitcoin and Ethereum options expire today amid mixed market sentiment

Posted on by Audrey

Today, about $3 billion of Bitcoin (BTC) and Ethereum (ETH) options are poised to expire, sparking huge interest in the crypto market.

Expiring cryptocurrency options can cause significant price volatility, causing traders and investors to constantly follow current events.

$2.87B Bitcoin and Ethereum options expiring

According to Deribit statistics, 23,481 Bitcoin contracts worth around $2.29 billion are slated to expire today. Bitcoin’s put-call ratio is 1.11. The maximum pain point, or the price at which the asset will cause the highest number of investors to lose money, is $97,000.Most contracts here will be useless when they expire.

Bitcoin-Options-Expiration
Bitcoin Options Expiration. Source: Deribit

Based on this, Greeks.live analysts provided an update on the current situation of the cryptocurrency market via its official X account (previously Twitter).

However, it is hard to deny that high financing rates for leveraged contracts, which indicate overextended bullish bets, raise the chance of a market correction. This is consistent with BeInCrypto’s previous analysis, which found that Bitcoin options traders are hedged against future drops. There is increasing interest in put options.

Bitcoin’s put-to-call ratio remained over one, indicating a largely pessimistic stance. In comparison, Ethereum’s put-to-call ratio is 0.63, reflecting a largely optimistic market view for ETH.

Expiring-Ethereum-Options
Expiring Ethereum Options. Source: Deribit

According to Deribit statistics, approximately 148,733 Ethereum contracts will expire today. These expiring contracts have a notional value of around $581 million and a maximum pain point of $3,500. Ethereum has gained 0.73% since Friday’s session began, trading at $3,902 as of this writing.

Bitcoin options traders hedging against potential declines

Bitcoin just reached a local high of over $104,000. However, it has corrected to trade at $97,693 as of this writing.

A number of reasons appear to be contributing to the quick drop. Among these is an overleveraged market, in which many traders used borrowed cash to speculate on BTC’s price rise.

This resulted in large liquidations as the price fell. Profit-taking after reaching $100,000 also contributed to the downturn. Massive sell orders around $110,000 may also have resulted in profit booking.

According to Greeks.live analysts, over two weeks of options market data reveal that market makers are cautious. The impact of BTC breaking the $100,000 barrier, along with the most recent pullback, caused short-term implied volatility (IV) to rise dramatically.

“…market makers are avoiding exposure to expose exposure to the market. The probability of the market continues to be extremely bullish now,” they added.

As these Bitcoin (BTC) and Ethereum (ETH) options contracts approach expiry, prices are anticipated to reach their peak agony levels. Nonetheless, markets must remember that the influence of option expiry on the price of the underlying asset is only temporary. In general, the market will revert to normal and compensate for significant price fluctuations.

US SEC won’t entertain Solana ETF, $300 SOL price at risk?

The US Securities and Exchange Commission has told two of five prospective issuers that their 19b-4 files for the spot Solana ETF have been denied, raising worries about the SOL price rise to $300.

The U.S. Securities and Exchange Commission (SEC) has notified two of the five potential issuers that their spot Solana ETFs would not be approved. Reports indicate that the agency will reject their 19b-4 submissions. The SOL price has been holding fast at its critical resistance level of $240, raising questions about whether it can continue its surge to $300.

US SEC to reject spot Solana ETF applications

Eleanor Terret of Fox Business stated that the US Securities and Exchange Commission (SEC) has advised at least two of the five applicants for Solana (SOL) spot ETFs that their 19b-4 applications would be refused.

According to Terret, industry sources believe the SEC is unlikely to approve any new bitcoin ETFs during the current administration. Thus, despite rising demand for crypto ETFs, regulatory opposition to such crypto investment products persists.

One member on X reacted to Terret, saying that the odds are still in favor of the approval. In response, the journalist wrote: “The SEC will not accept just one or a few and reject the others. Remember the Bitcoin ETFs? “Eleven launched on the same day.”

However, the revelation has not shocked crypto industry experts, who anticipate no significant developments until Paul Atkins takes over as US SEC Chair in January. Speaking on the development, ETF Store President Nate Geraci stated:

“No surprise, but won’t be any movement on spot crypto ETF filings until new leadership in place… Lame duck”.

Geraci went on to say that it’s notable that the SEC just acknowledged Bitwise Crypto Index ETF, which has a 4% weightage in Solana.

On the other side, crypto industry players are optimistic about the Solana ETF’s clearance following David Sachs’ recent confirmation as the White House’s AI and crypto czar. President-elect Donald Trump made the news public on his social media network, Truth Social.

SOL price rally to $300 at risk?

While other cryptocurrencies have made a significant increase, kicking off the altcoin season, the SOL price has stayed flattish, hovering around its critical resistance of $240.Furthermore, XRP surpassed Solana amid a strong bullish undertone, with XRP price increases above 50% on the weekly chart.

At press time, the SOL price was trading 1.68% higher at $241, with a market capitalization of $114.569 billion. The negativity surrounding the Solana ETF clearance has yet to be reflected in the pricing. Some market analysts predict that after the current consolidation period, SOL is positioned for a technical breakthrough that will propel it to a new all-time high of $290-$300.

Lawyers confidence Ripple will be most trusted source once regulation lift up

Ripple’s lawyer is certain that the business will become the most trusted source in the United States as rules become more crypto-friendly.

Stuart Alderoty, Ripple’s General Counsel, believes the company will become the most dependable source of business in the country very soon. This assumption emerged when Trump’s administration pledged to be crypto-friendly.

He anticipates that the crypto industry’s future will be marked by improved rules and policy openness. Trump This has been an issue for years under Biden’s presidency.

Ripple just rose to third place as the largest cryptocurrency by market capitalization, however they turned down Tether’s USDT when the XRP price fell to $2.33 as of writing.

Although Ripple remains one of the most renowned coins, it has encountered various legal challenges and has struggled to expand in recent years.

Ripple lausuit case against U.S. agency

Ripple has faced many litigation against the Securities and Exchange Commission (SEC) in recent years. The dispute began with the selling of XRP in 2020, which was deemed an unregistered security.

In July of last year, the court ruled that XRP sales were not securities since the product did not fulfill the investment contract. However, US District Judge Analisa Torres penalized the business $125 million for breaching institutional sales.

Later, in October 2024, the commission appealed the court’s ruling, requesting additional assessment of XRP’s categorization. This issue impacted not just the corporation, but also the cryptocurrency industry.

After Paul Atkins was named chairman of the SEC, Ripple’s executive hailed Trump’s move. Brad Garlinghouse described it as “an outstanding choice” since he hopes it marks the end of the crypto prohibition era.

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