Another weekly crypto options expiry has arrived, with Bitcoin and Ethereum contracts set to expire as spot markets continue trading within a narrow range.
Roughly 23,400 Bitcoin options contracts worth an estimated $1.4 billion are due to expire on Friday. Because this week’s expiry is relatively small compared to previous events, analysts expect only a limited impact on spot prices.
The broader crypto market rallied earlier in the week before giving back much of those gains following heightened geopolitical tensions involving Iran and the US Federal Reserve’s latest policy meeting. Since Monday, the total crypto market has shed around $30 billion in value.
Bitcoin Options Show Balanced Positioning
This week’s Bitcoin options carry a put to call ratio of 0.97, indicating a fairly even balance between bearish and bullish positioning. The maximum pain price stands near $62,000, slightly below Bitcoin’s current market price, meaning some contracts are likely to expire worthless.
According to Deribit data, the largest concentration of open interest remains at the $80,000 strike price with approximately $1.1 billion in outstanding contracts. Meanwhile, bearish traders still hold about $1 billion in open interest at the $60,000 strike.
Data from CoinGlass shows total Bitcoin options open interest across exchanges has edged higher to roughly $28.7 billion.
Derivatives analytics firm Greeks Live noted that the options market has returned to a more balanced term structure while continuing to reflect a preference for downside protection. The firm said the sharp pricing distortions seen earlier in June have eased, with risk now distributed more evenly across different contract maturities.
Although traders remain cautious about the possibility of further downside, the overall options market appears less fragmented than it was a few weeks ago.
Alongside Bitcoin, approximately 141,000 Ethereum options contracts with a notional value of $237 million are also expiring today. Those contracts have a maximum pain price of $1,700 and a put to call ratio of 1.2, suggesting a slightly stronger bearish bias. Total Ethereum options open interest across exchanges remains relatively modest at around $4.4 billion.
Combined, today’s Bitcoin and Ethereum options expiries represent roughly $1.6 billion in notional value, making it one of the smaller weekly expiry events.
Spot Market Holds Steady
The crypto market posted modest gains on Friday morning, lifting total market capitalization to approximately $2.25 trillion, although it remains slightly lower for the week overall.
Bitcoin climbed more than 2% during Asian trading, briefly touching an intraday high of $64,000. The next major hurdle sits just above $64,500, with a successful breakout potentially opening the path toward the $66,000 level.
Ethereum also recorded modest gains but continues to trade below the key $1,800 resistance level. Among altcoins, Zcash, Stellar, and Canton outperformed the broader market after a largely negative week for the sector.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
