Crypto Markets Hit by $11.6 Billion Options Expiry
- Options expiry leads to large market fluctuations.
- $11.6 billion in options affected prices.
- Significant liquidations in leading cryptocurrencies.
Bitcoin and Ethereum markets experienced a significant downturn on May 30, 2025, driven by the expiry of $11.6 billion in options on the Deribit exchange.
The massive options expiry has led to heightened market volatility, impacting many major cryptocurrencies. Significant liquidations occurred as the market processed the sudden expiration event.
Deribit Exchange Sees $11.6 Billion Options Expiry Impact
The expiration of $11.6 billion in Bitcoin and Ethereum options on Deribit has caused significant market disruption. Deribit oversaw expiring options totaling 93,000 BTC worth nearly $10 billion, and 624,000 ETH valued over $1.6 billion.
OKX Faced $12.74 Million Single Liquidation Order
Major exchanges like OKX witnessed heavy activity, including the largest single liquidation order of $12.74 million in BTCUSDT. This event has highlighted the sensitivity of market prices to option expirations, demonstrating the critical effects on market dynamics.
$750 Million Liquidated in Massive Expiry Aftermath
The expiration led to over $750 million liquidated, with $380 million in just four hours. Major cryptocurrencies including Bitcoin, Ethereum, and Solana have seen increased volatility.
Bullish to Bearish: $660 Million Long Positions Erased
Financial implications include the wipeout of $660 million in long positions. Market sentiment, reflected in put-call ratios, showed a bearish tilt with BTC at 0.88 and ETH at 0.81, affecting investor expectations. “ETH is experiencing a recalibrated price and volatility,” according to Greeks.live analysis, suggesting potential for a moderate market adjustment moving forward.
High Volatility Anticipated After Option Expirations
Past expiries have historically ended in high volatility, influencing trader behavior and market stability. Analysts predict similar trends following present market conditions.
ETH Price and Volatility Recalibration Underway
According to Greeks.live, “ETH is witnessing an upward shock to slow down, and the market has recalibrated the price and volatility, which has risen slightly overall.” This indicates that the expectation of a strong surge is low, with potential for moderate adjustment.
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