Boutique Media & consulting group
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Bitcoin derivatives contracts continue on increasing regardless of minimal spot trading over the last 2 months. Notably, the options market of Bitcoin is on its track to a phenomenal billion-dollar monthly expiry today.
At the time of reporting, over a hundred thousand option contracts (having an estimated value of more than one billion USD) are set to expire on 26th June. The expiry will take place across major cryptocurrency exchanges. These include OKEx, CME, Bakkt, LedgerX, and Deribit – as per the data provided by Skew, a digital asset derivatives research firm.
An options trader and founder of Polychain Capital-backed cryptocurrency derivatives exchange Alpha5, Vishal Shah mentioned,
“This is definitely the largest BTC option expiry by a country mile.”
Commenting on the development, Emmanuel Goh, the CEO of Skew mentioned,
“with big quarterly expiry, you tend to see some pinning and then the market moving post-expiry.”
At the time of reporting, Bitcoin is trading at 9311 USD, with a market capitalization of over one hundred and seventy-one billion USD. The largest cryptocurrency by market cap, Bitcoin has traded mostly in the range of nine thousand USD to ten thousand USD subsequent to the third halving event.
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