The largest cryptocurrency options expiry of the year is happening tomorrow, June 30. About $4.8B of Bitcoin and $2.3B of Ethereum options are set to expire, affecting 157,000 contracts. More market participants are betting on a rise in Bitcoin’s price, as shown by the ‘put-to-call ratio’ of 0.56. This ratio measures the number of ‘put’ options (which profit from a price drop) versus the number of ‘call’ options (which profit from a price increase). A ratio below one indicates a bullish market sentiment.
According to the web search results, the expiry of Bitcoin options can have an impact on Bitcoin's price, depending on the market sentiment and the balance between the 'put' and 'call' options. A 'put' option is a contract that gives the holder the right to sell Bitcoin at a specified price before a certain date, while a 'call' option is a contract that gives the holder the right to buy Bitcoin at a specified price before a certain date.
Some traders expect Bitcoin to rally after the expiry, as it might relieve some of the selling pressure and create more room for upside movement². However, others argue that the expiry might not have a significant effect, as most of the options are out of the money, meaning they have no intrinsic value³. The actual impact of the expiry might depend on how the market reacts to other factors, such as the global economic outlook, the regulatory environment, and the supply and demand dynamics.
Bitcoin options: How will Friday’s $4.7B expiry impact BTC price?.
https://cointelegraph.com/news/bitcoin-options-expiry-30k-resistance-and-price-impact.
Bitcoin options: How will Friday’s $4.7B expiry impact BTC price?.
Bitcoin Likely to Rally After September Options Expiry ... - CoinDesk. https://www.coindesk.com/markets/2021/09/24/bitcoin-likely-to-rally-after-september-options-expiry-deribit-poll/.
Bitcoin Likely to Rally After September Options Expiry ... - CoinDesk.
https://marketrealist.com/p/what-happens-when-bitcoin-options-expire/.