$2.2 Billion Worth of Crypto Options Set to Expire
Analysis
Price Impact
HighA massive $2.22 billion crypto options expiry, primarily bitcoin ($1.84 billion), is set to occur tomorrow on deribit (which controls 85-90% of the market). this significant event is explicitly noted to trigger short-term volatility as traders adjust their positions.
Trustworthiness
HighThe analysis is based on concrete market data from deribit, including put/call ratios, max pain points, and open interest figures. the source (u.today) is a recognized crypto news outlet, reporting on direct market mechanics.
Price Direction
NeutralFor bitcoin, the put/call ratio is 1.05, indicating a slight tilt towards bearish sentiment or hedging, especially after failing to hold $90,000 and the $94,500 rally being termed a 'bull trap'. the max pain point is $90,000, and btc is currently trapped in a sideways range ($85,000-$92,000) with significant open interest 'bracketing' the current price. this creates a tense standoff, suggesting neutrality with high potential for sharp moves post-expiry. in contrast, ethereum has a put/call ratio below 1.0, indicating aggressive bullish bets on upside.
Time Effect
ShortThe article explicitly states that this is a 'significant weekly expiry that can trigger short-term volatility' as traders roll over positions, indicating immediate effects around the expiry time.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News At 08:00 UTC tomorrow, crypto options contracts representing $2.22 billion in underlying value will settle on trading platform Deribit. Advertisement This is a significant weekly expiry that can trigger short-term volatility as traders roll over positions It is worth noting that Deribit controls approximately 85-90% of the global crypto options market HOT Stories Morning Crypto Report: XRP Bulls Are Safe From Max Pain, Zcash (ZEC) Rockets 9,780% in Liquidation Imbalance as Core Team Exits, Binance Announces Gold and Silver Listings Can Bitcoin Reach $250,000 in 2026? Billionaire Draper Makes Major Prediction Crypto Market Review: Was Shiba Inu (SHIB) Zero Removal Trap? Ethereum (ETH) Strength at $3,200 Is Unmatched, XRP's Symptoms of Dead Cat Bounce Morgan Stanley Files for Bitcoin and Solana ETFs, Shiba Inu (SHIB) Price Erases Zero, Bollinger Shares XRP Warning — Crypto News Digest Bitcoin accounts for the vast majority of the action ($1.84 billion), and the data suggests a tense standoff between bulls and bears. Advertisement The put/call ratio, which measures the volume of bearish versus bullish bets, currently stands at 1.05. A ratio above 1.0 means there are more bears than bulls. With 1.05 puts for every call, the market is currently tilted slightly toward fear or hedging, likely due to Bitcoin's recent failure to hold $95,000. You Might Also Like Thu, 12/25/2025 - 19:47 Biggest-Ever Bitcoin Options Expiry to Take Place Tomorrow By Alex Dovbnya Advertisement At the same time, the max pain point is at $90,000. This is the price at which the greatest number of options (both puts and calls) expire worthless. It is the best-case scenario for the "house." Deribit notes that open interest "brackets" the current price. There is a wall of Puts protecting against a drop below $85,000 and a wall of Calls betting on a breakout above $90,000. Unlike Bitcoin, Ethereum has a ratio below 1.0, meaning there is more volume in Calls than Puts. Traders are aggressively betting on upside rather than buying downside protection. Another failed breakout As reported by U.Today, Bitcoin failed to sustain its position above the psychological $90,000 level for the third time since November 2025. The cryptocurrency recently confirmed that the New Year's rally to ~$94,500 was a "bull trap." The chart remains trapped in a sideways range defined by resistance at $92,000 and support at $85,000, but the massive options expiry could bring some fireworks. #Bitcoin Price Prediction #Ethereum Price Prediction