Bitcoin options markets are set to see a large expiry on Friday as more than 77,000 BTC worth over $4 billion in derivatives contracts are set to expire.
As far as options are concerned, a great number of puts and calls will expire in two days and a touch over 12 hours from now.
“This is a very huge indicator in comparison with other expiration dates, which can have a significant impact on the market,” one person replied to Skew’s tweet.
Following the hefty weight of Deribit’s BTC options open interest, exchanges like Bit.com, Okex, Ledgerx, CME, and Huobi have seen rising demand.
Industry executives and analysts believe that in terms of spot market action bitcoin will see a lot of growth.
“Critics taking comfort from Bitcoin’s recent dip may realize the folly of seeking to draw any conclusions from rapid short-term price fluctuations,” Ardoino explained to Bitcoin.com News.
Meanwhile, while spot markets have bounced back, derivatives contracts from both bitcoin futures and options have stayed frothy.
Binance leads the bitcoin futures markets race and is followed by Bybit, Okex, CME, and FTX Exchange in terms of open interest in the billions.
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