Today, Deribit is settling $1.9 billion in Bitcoin options via their contracts that are set to expire. The report noted that the shocking 72,000 BTC August options have a tremendous worth along with the exchange’s 535,000 worth of Ether (ETH) options. Later on this week, arguably skewed economic news managed to push Bitcoin back below the $26,000 mark digressing prices.
Looking forward to the August expiry however, call and put option buyers are seeing major successes; as such an estimate of at least pain indeed in favor of the buyers is an educated estimation. Analyst Lin Chen John commented further on Deribit’ official statement: “Buyers of BTC and ETH put options are clear winners heading into the expiry.” Further news regarding this significant Bitcoin development supports John’s take.
Consequently blockchain industry experts anticipate maximum pain for the option contract expiries; and both Bitcoin or Ether are exactly around at the dollars respectively. As both form an effort to466 move markets in the favor of writers and thus sellers of normal Contracts are aiming to reach the maximum pain level. Ultimately, expecting Deribit to become extremely busy as 08:00 UTC traders await their turn for the huge Bitcoin options settlement.
