$2.07B in Bitcoin Options and $458M in Ethereum Options Expire Tomorrow

Key Points

• Over $2.5 billion in Bitcoin and Ethereum options expire tomorrow at 08:00 (UTC) on Deribit.
• BTC is trading near $96,000 and ETH is trading above $2,600.

Tomorrow morning over $2.5 billion in Bitcoin and Ethereum options will expire on Deribit, potentially triggering market volatility.

Bitcoin and Ethereum Options Expiry

Earlier today, Deribit shared a post via X, revealing the significant options expiry data. Tomorrow’s crypto options will expire at 08:00 (UTC).

$2.07 billion in Bitcoin options will expire with a Max Pain Point of $98,000, and a Put/Call ratio of 0.7.

Also, $458 million in Ethereum options will expire with a Pan Pain Point of $2,750 and a Put/Call ratio of 0.65.

Tomorrow’s significant options expiry could potentially trigger even more volatility in the crypto market, following yesterday’s CPI data.

Bitcoin Trades Near $96,000

At the moment of writing this article, BTC is trading near $96,000.

Today, the digital asset’s price recovered from yesterday’s dip to $94,000 levels following the latest CPI report in the US which came in hotter than expected.

Yesterday, February 12, BTC recorded a price drop from above $96,000 after the inflation data in the US came in.

BTC Price Dropped Following CPI Report

Reuters press agency reported that the US consumer prices increased by the most in almost one – one and a half years in January. Americans face higher costs for a range of goods and services, reinforcing the Fed’s message that it is in no rush to cut interest rates the next month. The next FOMC meeting is scheduled for March 19.

The US January consumer prices rose by 0.5% MoM, higher than expectations of 0.3%, reaching 3% YoY – higher than estimations of 2.9%.

The US January Core CPI rose by 0.4% MoM, higher than the 0.3% estimations, reaching 3.3% YoY, higher than economists expectations of 3.1%.

According to Reuters , the hotter-than-expected data revealed by the Labor Dept. was likely due to businesses rising prices at the start of the year, evident in a record surge in the cost of prescription medication and a rise in motor vehicle insurance.

Today, ETH was a better performer compared to BTC.

ETH Trades Above $2,600

At the moment of writing this article, ETH is trading above $2,600. Unlike BTC which is trading in the red, ETH is trading in the green today being up by almost 1%.

Yesterday, February 12, BTC and ETH ETFs recorded outflows. ETH ETFs in the US recorded over $40 million in outflows, while BTC ETFs saw over $251 million in outflows, according to SoSoValue data.

However, the overall crypto market maintains optimism amidst rising institutional adoption, and building efforts in the industry.