Bitcoin Options Expiry Clears as BTC Holds Near $84K
Bitcoin options expiry removes $15.6B in Deribit exposure as BTC holds near $83K. See how the massive settlement shaped market rotation and risk across crypto.
About $15.6 billion in Bitcoin options settled on September 25 on Deribit, removing a large block of derivatives exposure while BTC remained in the mid$83,000 range.
The expiry covered roughly 182,000 BTC in open interest, with call contracts exceeding puts. While the notional value was large, it did not mean the same amount of Bitcoin was bought or sold; it reflected the size of the contracts that reached settlement.
Bitcoin later traded around $83,600 after reaching an intraday high near $87,000 earlier in the week. At the same time, XRP and Solana outperformed BTC over the sevenday period, suggesting the market was still rotating even as the large expiry passed.