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How Will the Crypto Market React to Bitcoin & Ethereum Options Expiry Today?

Published by
Mustafa Mulla

The crypto market is bracing for a big event today, just one day after the Bitcoin Conference 2025 wrapped up in Las Vegas on May 29. The conference, filled with optimism and new ideas, has set a hopeful tone. But now, with more than $11 billion in Bitcoin and Ethereum options expiring today, traders are worried that this will lead to massive volatility ahead.

$9.8B Bitcoin Options Expiry Today

According to data from Deribit, a leading crypto derivatives platform, around 92,459 Bitcoin contracts will expire today. These contracts are worth nearly $9.8 billion, a significant jump from last week’s figures.

Currently, Bitcoin is trading at around $105,982, down about 1.9% in the past 24 hours. The maximum pain price, the level where most options lose money, is $100,000. 

Although this is below the current price, analysts think Bitcoin won’t drop all the way to that level. Traders have set a put-to-call ratio of 0.89, showing more bets on price gains.

$1.6 Billion Ethereum Options Expiry

Ethereum is also seeing a big expiry day, with 623,949 contracts worth about $1.6 billion set to expire today, again according to Deribit data.

Ethereum’s price is currently at $2,600, down about 4% in the past 24 hours. Its maximum pain price is $2,300, while the put-to-call ratio of 0.81 suggests that traders still believe prices could go higher.

How the Crypto Market Could React Today

This week’s Bitcoin and Ethereum options expiry is much bigger, covering the whole month. Historically, big monthly expiries like this can lead to short-term volatility, as traders adjust their positions or hedge against sudden price swings.

Meanwhile, Bitcoin traders seem split, as some hope for a price rise, while others are cautious and ready to protect themselves. 

On the other hand Ethereum’s market looks balanced, with chances to grow but also some caution.

FAQs

What happens when Bitcoin options expire?

Large Bitcoin options expiry can cause short-term price volatility as traders adjust or close positions.

How does Ethereum options expiry affect its price?

Ethereum options expiry often triggers volatility; today $1.6 billion contracts are expiring amid price dips.

What does put-to-call ratio indicate for Bitcoin and Ethereum?

Ratios below 1 (Bitcoin 0.89, Ethereum 0.81) suggest traders expect prices to rise despite recent declines.

How is the crypto market doing today?

Bitcoin and Ethereum prices are slightly down amid big options expiries, with traders cautious but optimistic.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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