News View Non-AMP

Ethereum and Bitcoin Price Plunge as ETH Options Contracts Expire

Published by
Qadir AK

On June 25, over $1.5 billion of Ether (ETH$3.3 )’s billion notional open interest (OI) in ETH options will expire, making it the highest options expiry ever. Over 638,000 ETH options contracts are due to expire in June, representing 45 percent of total open interest in these options. A slew of options expired on the last Friday of May, causing the market to plummet. 

Bitcoin options for 83,700 BTC (approximately $2.6 billion) and Ethereum options worth 685,000 BTC (about $1.5 billion) expired today. For Ethereum, this is a new high for the number of options contracts expiring in a single day. And both assets are in decline, implying that traders choose to sell.

However, the market was already having difficulties. Bitcoin dipped below $30,000 for the first price since January on Tuesday. Ethereum price also fell below $2,000 for the first time. The drop has a lot of causes, but China is one of them: China’s central bank warned five of the country’s largest banks, as well as payments platform Alipay, to stop performing crypto-related business this week. 

Bitcoin received a significant rejection at $35,000, and after failing to break through resistance at that level, it went toward support around $31,500. It might return to $35,000 if this support holds. At the moment, most coins on the market, such as ether, are closely tied to BTC/USD.

Holders of call options contracts can buy Ethereum at a predetermined price on the expiration date. While holders of put options contracts can sell Ether at a similar price. Call options are typically used to augment bullish tactics, while put options are employed as hedges against the underlying unfavorable price moves.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Pi Network News: Price Dips Ahead of 5M Token Unlock Today

Pi Coin is currently trading at $0.63, marking a 2% decline in the last 24…

April 22, 2025

Sui Price Prediction 2025, 2026 – 2030: SUI Price To Hit $10 This Year?

Story Highlights The live price of SUI crypto is . The SUI price is expected…

April 22, 2025

VeChain Price Prediction 2025, 2026 – 2030: Is VeChain Still a Good Investment?

Story Highlights The live price of the VeChain token is . The VET price could…

April 22, 2025

WazirX Eyes Comeback After $234M Hack, Awaits May 13 Court Verdict

WazirX, a major crypto exchange, is preparing to restart its operations after suffering a massive…

April 22, 2025

PEPE Price Prediction 2025, 2026 – 2030: Can Pepe Memecoin Reach 1 Cent?

Story Highlights The live price of the PEPE meme coin is . Pepe coin price…

April 22, 2025

15,000+ Solana Memecoins Launches Manipulated by Pump.Fun Sniper Wallets: Report

According to Pine Analytics Report over 15,000 Solana memecoin launches on Pump.fun have been manipulated…

April 22, 2025