Key Points
- Over $6.1 billion in crypto options will expire tomorrow at 08:00 (UTC) on Deribit.
- BTC is trading above $86,000 and ETH trades above $2,300.
Tomorrow, a significant amount of Bitcoin and Ethereum options are set to expire on Deribit. The February 28 options expiration comes amidst a volatile crypto market.
Bitcoin and Ethereum Options Expiry Details
Over $6.l1 billion in Bitcoin and Ethereum options will expire tomorrow at 08:00 (UTC) on Deribit, according to an official announcement.
Around $4.94 billion in Bitcoin options will expire with a Max Pain Point of $97,000, and a Put/Call Ratio of 0.73.
Also, $1.2 billion in Ethereum options will expire with a Max Pain Point of $3,000, and a Put/Call Ratio of 0.54.
A few days ago, Deribit posted about the significant BTC options expiry details this Friday.
As we reported yesterday, considering that the Max Pain Point is significantly higher compared to the current BTC price, option sellers could push BTC prices higher, closer to the Pain Price, according to the Power Trade options exchange.
The latest options expiry data comes amidst a very volatile crypto market in the past week. Today, the crypto market is down by over 2.6%.
Bitcoin Trades Above $86,000
At the moment of writing this article, BTC is trading above $86,000, after an earlier dip to $82,000.
Yesterday, BTC recorded a price drop from $89,000 levels after it was announced that US President Donald Trump could impose 25% tariffs on the EU.
Financial Times reported that Trump threatened to impose 25% tariffs on imports from the EU, as he lashed out at the bloc, saying that it formed to “screw the United States.”
Also, on February 26, BTC ETFs recorded another significant outflow of $754.5 million, according to SoSovalue data.
Since yesterday’s drop, BTC managed to rebound to current price levels.
Ethereum Trades Above $2,300
Regarding ETH, at the moment of writing this article, the digital asset is trading above $2,300.
Yesterday, ETH dropped as well from $2,500 levels below $2,300, before seeing a rebound to current levels.
Crypto Industry Remains Optimistic
The crypto industry remains optimistic despite the recent volatility following yesterday’s 1st ever digital asset subcommittee hearing with huge implications for crypto.
Also, it’s worth noting that Michael Saylor will have a keynote speech at Bitcoin for America on March 11, discussing how the country will pay off the national debt with BTC, another bullish upcoming event.
Co-host of the event will be Senator Cynthia Lummis a powerful BTC supporter.
