The imminent expiry of a significant batch of options contracts on the Deribit derivatives platform has put the Bitcoin market on high alert. This event, according to financial analysts, could determine the short-term price direction of the leading cryptocurrency. This massive expiry is one of the largest observed in the market, attracting the attention of traders and institutional investors alike.
Typically, these types of expiries generate volatility in Bitcoin’s price. The impact lies in the fact that, as call (buy) and put (sell) contracts expire, risk hedges are released and readjusted, which can lead to sharp movements in the spot market. The concentration of open interest on Deribit, a leader in this sector, magnifies its influence, making the event a crucial barometer of the confidence and positioning of major market players.
In the coming hours, attention will focus on price behavior immediately after the expiry, as historical precedent suggests a possible suppression of volatility just before the event, followed by a more defined directional trend. Investors should closely monitor key support and resistance levels that reconfigure after the liquidation of positions in the Bitcoin options market.
Source: https://www.coinglass.com/BitcoinOpenInterest
Source: https://www.coinglass.com/currencies/ETH/futures
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