$21B in Bitcoin and Ethereum Options Expire Today
$21B in Bitcoin and Ethereum options expire today, setting the stage for major volatility in crypto markets.

- $21B in BTC and ETH options set to expire today.
- Expiry could trigger sharp price swings in both assets.
- Traders brace for volatility across crypto markets.
A Massive Options Expiry Event
The crypto market is bracing for heightened volatility as $21 billion worth of Bitcoin and Ethereum options contracts expire today. Options expiry events of this magnitude often lead to significant price swings as traders unwind or roll over their positions.
For both Bitcoin and Ethereum, today’s expiry represents one of the largest derivatives events of the quarter — with billions in open interest concentrated around key strike prices.
Why Options Expiry Matters
Options give traders the right, but not the obligation, to buy or sell assets at a set price. When large volumes of contracts expire simultaneously, it can create sudden shifts in supply and demand, particularly if strike levels are close to current spot prices.
This often leads to sharp intraday volatility as market makers adjust hedges and traders reposition for the next cycle. Both Bitcoin and Ethereum prices could see increased turbulence as expiry pressure plays out.
What to Expect in the Market
Historically, large expirations have served as catalysts for short-term shakeouts before markets find new direction. Traders should watch closely for key resistance and support levels being tested in the hours following expiry.
While expiry volatility is often temporary, the size of today’s contracts — $21 billion across BTC and ETH — makes this a particularly significant event for the broader crypto market.
In short: buckle up, because volatility is almost guaranteed.
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