What does the expiration of $14.6 billion BTC/ETH options on August 29 mean for the market?

The massive options expiration dates of $BTC and $ETH , with a total value of about $11.62 B for BTC and about $3.03 B for ETH, totaling $14.65 B, is one of the major events of the year.

BTC is no longer just a buy-and-hold asset; it has now become a mature asset with a complete derivatives market.

Options expiration is like a "major earthquake" on the financial calendar, especially with an expiration of this scale at $14.6 billion, which often brings significant volatility and capital games as it approaches and concludes.

🔑 Why should you pay attention?

Increased price volatility: Market makers may trade Bitcoin heavily in the spot and futures markets to hedge risks.

Sentiment transmission: The long-short game at expiration can directly affect retail investor sentiment, sometimes even triggering market direction faster than news.

Ongoing effects: Even after contracts expire, the position adjustments and changes in mindset it brings may continue to affect the market in the following days.

For newbies, what are Bitcoin options?

Let’s first analyze the meaning of options in cryptocurrency:

An options contract is an agreement that allows traders to buy or sell Bitcoin at a specific price (known as the strike price) before a certain date.

Call options are bullish bets (traders believe the price of Bitcoin will rise).

Put options are bearish bets (traders expect the price to fall).

On the expiration date, contracts can be:

In the money → The holder is profitable

Out of the money → Worthless, expiring with no value

Even if you don’t personally engage with options, you will be indirectly affected. Because market makers and institutions will perform a series of operations in the spot and futures markets to hedge risks, thus driving short-term volatility in Bitcoin.

👉 This "expiration day effect" is one of the most real forces in the Bitcoin market. It tells you that Bitcoin's volatility is not just random, but is driven by institutions, market makers, and large funds.

This is not simply a bullish or bearish situation, but a "high volatility moment." For beginners, the most practical approach is to: stay alert, avoid blindly chasing or selling off, and treat it as an opportunity to learn the logic of large capital games.