---
title: "Will Today’s Bitcoin Options Expiry Send Markets Lower?"
url: https://diffcoin.com/will-todays-bitcoin-options-expiry-send-markets-lower/
description: "Crypto options expiry day is upon us again and today will see more than $2 billion in notional value derivatives expire."
published: 2024-06-14
updated: 2024-06-14
author: "Mila"
site: "Diffcoin"
---

# Will Today’s Bitcoin Options Expiry Send Markets Lower?

There are around 20,000 Bitcoin options expiring with a notional value of $1.35 billion. However, today’s expiry event is much smaller than in previous weeks, so market impact is likely to be minimal.

Nevertheless, a large Bitcoin options expiry event will occur on June 28, with $6.7 billion in notional value derivatives expiring.

## Bitcoin Options Expiry

Today’s BTC contracts have a put/call ratio of 0.49 which means twice as many long (call) contracts are expiring as shorts (puts).

The max pain point is $68,500, a little higher than current spot prices. This is the level at which most losses will be made.

The bulls are still dominating BTC derivatives with almost $1 billion in open interest at the $100,000 strike price, according to Deribit. $75,000 and $80,000 strike prices have also attracted a lot of OI with $723 million and $807 million respectively.

Crypto derivatives tooling provider Greeks Live commented that despite the big macroeconomic data week in the United States, “the crypto market underperformed, the mainstream coins as a whole fell, and the altcoins are even more down.”

> “There are fewer hot spots in the market recently, and the market is relatively quiet.”
> 
> > 14 June options delivery data 
> > 20,000 BTC options expired with a Put Call Ratio of 0.49, a maximum pain point of $68,500 and a notional value of $1.35 billion. 
> > 200,000 ETH options expired with a Put Call Ratio of 0.36, a max pain of $3,600 and a notional value of $710 million.… [pic.twitter.com/42ruZLLtqc](https://t.co/42ruZLLtqc)
> > 
> > — Greeks.live (@GreeksLive) [June 14, 2024](https://twitter.com/GreeksLive/status/1801490763261558884?ref_src=twsrc%5Etfw)

It added that short-term implied volatility for Bitcoin and Ethereum has fallen below 50% and 60% respectively. However, Ethereum ETF news later this month could impact market sentiment and volatility.

In addition to today’s batch of Bitcoin options, 200,000 Ethereum options expired with a put/call of 0.36, a max pain point of $3,600, and a notional value of $710 million.

## Crypto Market Outlook

There has been little change in total market capitalization over the past 24 hours with it remaining at $2.57 trillion.

However, markets have been in retreat with a 7.5% decline over the past ten days.

Bitcoin was hovering around $67,000 in early trading on Friday following a fall from around $69,500 earlier this week. Analysts pointed at Bitcoin miner profit taking contributing to the declines.

Chart guru Peter Brandt highlighted levels of support should markets fall further.

> Chart of interest – Bitcoin [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) 
> Sometimes the most obvious interpretations of a chart work out, most of the time the charts morph. But the most obvious is this: 
> Break through 65,000, then mkt goes to 60,000 
> Break through 60,000 mkt goes to 48,000 [pic.twitter.com/JsXXVx2EhV](https://t.co/JsXXVx2EhV)
> 
> — Peter Brandt (@PeterLBrandt) [June 13, 2024](https://twitter.com/PeterLBrandt/status/1801389733597089944?ref_src=twsrc%5Etfw)

Ethereum has taken a bigger hit this week falling 7.7% to a four-week low of $3,434 on June 13 before recovering slightly to $3,515 at the time of writing.

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