Could the Expiry of $15 Billion Worth of Bitcoin Options Affect Cryptocurrency Markets?

Approximately 140,000 Bitcoin options contracts, with a notional value of nearly $15 billion, are set to expire on Friday, June 27. The event coincides with the end of the month and the second quarter, potentially impacting spot markets. The options contracts have a put/call ratio of 0.74, indicating more long sellers than shorts, and a max pain point of $102,000. Open interest is highest at the $140,000 strike price.

In addition to Bitcoin, about 940,000 Ethereum contracts are also expiring, with a notional value of $2.3 billion. This brings the total notional value of crypto options set to expire on Friday to approximately $17.3 billion. The crypto market is currently in a two-month sideways trading channel, with Bitcoin showing resilience despite failing to surpass resistance at $108,000.