Crypto Traders Brace for Volatility as $1.75B in Options Expire

Market data from Greeks.live indicates that 23,000 Bitcoin options—valued at $1.5 billion—cleared the market alongside 140,000 Ethereum contracts worth $250 million. While Bitcoin hovered above $60,000 throughout the week, briefly touching $64,000, institutional players actively sold short-term calls. This strategy typically indicates a belief that the asset will remain range-bound or struggle to break past existing resistance levels.

The sentiment surrounding Ethereum remains notably defensive. With a put-call ratio of 1.26, traders are prioritizing downside hedges, particularly via strike prices below $1,500. This trend persists despite a more normalized term structure in options pricing, as investors continue to pay a premium for protection against potential market dips. While the weekly expiry represents only about 7% of total outstanding options, the ongoing accumulation of bearish positions reflects broader uncertainty driven by shifting interest-rate expectations and global macroeconomic instability.