Bitcoin price falls to $50K, but $6B options expiry can refuel bulls
Cointelegraph
Published Mar 25, 2021 01:16PM ET
Updated Mar 25, 2021 07:20PM ET
The biggest-ever Bitcoin options expiry is due on March 26. Over $6 billion worth of Bitcoin (BTC) options will expire across exchanges on Friday, with a majority of these options being on Deribit. This will be a record expiry in terms of the value and number of options — a total of 100,400 Bitcoin options will expire. The previous record was set in January when nearly $4 billion worth of options expired, representing 36% of the open interest at the time.
The enormous upcoming expiry comes on the back of rapid growth in open interest in the Bitcoin options market. The OI of Bitcoin has seen more than 147% growth since the beginning of the year. The total OI across the top five crypto derivatives exchanges is currently $14.01 billion, up from $5.67 billion on Jan. 1.
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Written By: Cointelegraph
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