Renewed Bullishness Expected After Bitcoin, Ether's $10B Options Expiry on Friday

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

The size of the impending BTC, ETH options expiry represents over 40% of total notional options open interest on Deribit.Traders anticipate a renewed bullish shift in bitcoin and ether next month.over 40% of the current cumulative open interest of over $23 billion, could trigger a surge in market volatility. Large quarterly expiries often lead to increased volatility, making prices more unpredictable due to higher trading volumes and the closing/rollover of positions.

Having more than 25% of open interest set to expire in the money means a significant number of derivative contracts are expected to be profitable for their holders at expirations. "The recent price drop was caused by miner sales, some pressure from German-seized BTC, and, of course, the imminent transfer of Mt. Gox coins expected in early July," Strijers said.

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