Bitcoin and Ethereum options expiring today
Approximately $4.35 billion worth of Bitcoin and Ethereum options are set to expire today, September 19, 2025. Bitcoin options expiry events are known to cause increased volatility and price fluctuations in the market, with quarterly expiry dates creating volatility spikes averaging 15% higher than normal trading sessions.
As of today, Bitcoin is trading around $116,388.30 USD, down 0.65%. Ethereum is trading around $4,525.55 USD and has seen a 24-hour trading volume of $31.68 billion. The price has dropped by 1.14% in the last 24 hours.
Market Context and Volatility
Bitcoin options expiry events represent the single most predictable catalyst in crypto derivatives trading, influencing price discovery and market movements.
Increased trading volume and spikes in implied volatility are common around options expiry.
Market makers and institutional traders adjust their hedges during this period, which can significantly influence prices.
The expiration of options can lead to "pinning," where the underlying asset's price gravitates towards a strike price with significant open interest.
