The filing of a spot Bitcoin ETF by big financial companies like BlackRock dissipated the negative mood in the cryptocurrency industry after the SEC's lawsuits against Binance and Coinbase and started the rally that took BTC to $31,000.
While the last BTC and altcoin rally excites investors, it remains a matter of curiosity whether this rally will continue.
At this point, while BTC continues to hold above $30,000, investors focused on Bitcoin and Ethereum options, which will expire this week.
Digital asset data provider Amberdata announced $1.23 million ETH worth $2.3 billion with 150,633 Bitcoin options contracts valued at $4.57 billion on Friday, June 30, 2023 at 08:00 UTC (11:00 UTC) on the Panama-based Deribit exchange. He shared that his contract will expire.
Amberdata also added that expiring BTC options account for approximately 43% of total open interest in the options market.
“A rise for the cryptocurrency industry?
150,633 BTC options contracts worth $4.57 billion and $1.23 million ETH contracts worth $2.3 billion will expire on Deribit at 08:00 UTC on June 30. Bitcoin contracts expiring account for 43% of total open options.
🎇 Fireworks incoming? 150,633 BTC options contracts worth $4.57 billion & $1.23 million ETH contracts valued at $2.3 billion will expire on @DeribitExchange. The bitcoin contracts due for settlement account for 43% of the total open interest.
Read more:https://t.co/zrjt2YaMux pic.twitter.com/iplPyeHlUh
— Amberdata (@Amberdataio) June 26, 2023
Experts at this point, looking at the ratio of Bitcoin options to the total number, stated that these figures may have an effect that moves the crypto market and that there may be a great increase in BTC and altcoin prices.
*Not investment advice.
