Ethereum

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Around 35,000 Bitcoin options contracts will expire on Friday, June 12, with a notional value of roughly $2.23 billion. This is slightly larger than last week’s, but is still unlikely to impact spot markets.
Crypto markets have continued to decline all week, with around $50 billion leaving the space, but those declines have slowed.
Military strikes between the US and Iran have continued, and a deal seems a distant hope. A high inflation print and the SpaceX IPO liquidity drain have also added to macroeconomic headwinds for crypto assets.
<h2 id="bitcoin-options-expiry">Bitcoin Options Expiry</h2>
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.66, meaning that sellers of long contracts far outweigh short contract sellers. Max pain is around $67,000, according to Coinglass, which is much higher than current spot prices, so most will be at a loss on expiry.
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $80,000 strike price on Deribit, with $1.6 billion, but short sellers still have $1.3 billion in OI at $60,000. Total BTC options OI across all exchanges has been declining recently, and is at $33.4 billion, according to Coinglass.
Bitcoin is holding above its 200-week moving average at $62,000, but institutions are “selling into the bounce,” said Deribit this week.
<blockquote>
 “Despite recent volatility, positioning remains skewed toward calls across both assets.”
</blockquote>
BTC options positioning has “consolidated around a narrow set of strikes,” <a href="https://x.com/GreeksLive/status/2064479821313294551" rel="noopener noreferrer nofollow">said</a> crypto derivatives provider Greeks Live.
<blockquote>
 “The largest short dealer exposure anchored is at $60K. Collectively, downside exposure is heavily concentrated within the $60K to $62K range.”
</blockquote>
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f6a8.png" alt="🚨"> Options Expiry Alert <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f6a8.png" alt="🚨">
 At 08:00 UTC tomorrow, ~$2.51B in crypto options are set to expire on Deribit.<a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>: $2.23B notional | P/C: 0.68 | Max Pain: $66K<a href="https://x.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>: $291M notional | P/C: 0.62 | Max Pain: $1.75K
 Despite recent volatility, positioning remains skewed toward calls… <a href="https://t.co/F5jdgUpxDw" rel="noopener noreferrer nofollow">pic.twitter.com/F5jdgUpxDw</a>
 — Deribit (@DeribitOfficial) <a href="https://x.com/DeribitOfficial/status/2065189329950085345?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2026</a>
</blockquote>
In addition to today’s batch of Bitcoin options, around 175,000 Ethereum contracts are also expiring, with a notional value of $293 million, max pain at $1,750, and a put/call ratio of 0.58. Total ETH options OI across all exchanges is around $5.6 billion.
This brings the total crypto options expiry notional value to around $2.5 billion, which is a relatively small expiry event.
<h2 id="spot-market-outlook">Spot Market Outlook</h2>
Total capitalization has ticked up marginally on Friday, but it remains at multi-month lows around $2.25 trillion.&nbsp;Bitcoin added 2% on the day to trade around $63,500 at the time of writing, but selling pressure still <a href="https://cryptopotato.com/bitcoin-nears-realized-price-but-capitulation-signals-are-missing-analyst/" rel="noopener noreferrer nofollow">overwhelms</a> any potential buyers.
Ether prices have been flat around the $1,650 level, and there does not seem to be any catalysts for a breakout yet.&nbsp;Some of the better-performing altcoins include Hyperliquid and Monero. The latter has jumped 16% on the day, but most of them remain at <a href="https://cryptopotato.com/crypto-trading-volumes-plunge-to-2-year-lows-as-market-fatigue-sets-in/" rel="noopener noreferrer nofollow">multi-year lows</a>.
The post <a href="https://cryptopotato.com/how-will-2-2b-bitcoin-options-expiring-impact-spot-markets-today/" rel="noopener noreferrer nofollow">How Will $2.2B Bitcoin Options Expiring Impact Spot Markets Today?&nbsp;</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

How Will $2.2B Bitcoin Options Expiring Impact Spot Markets Today?

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