Share this article
Bitcoin Likely to Rally After September Options Expiry: Deribit Poll
Bitcoin options contracts worth $3.3 billion are set to expire today.
Updated Apr 10, 2024, 2:06 a.m. Published Sep 24, 2021, 8:06 a.m.
Traders expect bitcoin to rally after Friday’s monthly options expiry, a Twitter poll conducted on Thursday by Deribit, the world’s largest crypto options exchange, showed.
Nearly 50% of the 517 votes favored “UpOnly”, or the cryptocurrency extending its bounce from recent lows near $40,000. Meanwhile 21% voted for “Nuke” – indicating for a price drop.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A total of 74,200 bitcoin options contracts worth $3.3 billion are due to expire today. Deribit alone is settling nearly 65,000 contracts at 08:30 UTC, the designated expiry time on the dominant exchange.
Most of the open interest is concentrated in the higher strike call options and will expire worthlessly.
This year, the options market has gained notoriety, with bitcoin witnessing pullbacks while heading into the expiry and regaining an uptrend following the event. The pattern was observed in the first four months of the year and in August.
Advertisement
Some analysts say the options market is still quite small to have a material impact on the spot price. As of Thursday, bitcoin’s global options volume was around $500 million, amounting to just 1.25% of the spot market volume of $40 billion, according to data sources Skew and CoinGecko.
What happens to #BTC price tomorrow after expiry?
— Deribit (@DeribitExchange) September 23, 2021
Bitcoin is trading largely unchanged on the day at almost $44,900 amid signs of stability in traditional markets. The S&P 500 closed above the crucial 50-day moving average on Thursday.
Больше для вас
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Что нужно знать:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
