Bitcoin braces for $6.4B options expiry Friday

Bitcoin traders are preparing for approximately $6.44 billion in BTC options to expire on Deribit at 08:00 UTC on Friday, Aug. 28, following the cryptocurrency’s rapid advance from approximately $62,000 to $80,000. Summary 81,700 Bitcoin options worth roughly $6.44 billion expire Friday at 08:00 UTC on Deribit’s platform. Calls total 44,639 contracts versus 37,061 puts, producing a 0.83 put-to-call ratio before Friday’s settlement. The $75,000 strike holds $236 million in call notional, while $80,000 holds $157 million currently. More than $500 million of notional lies within 5% of Bitcoin’s prevailing market price currently. Max pain stands near $68,000, but that model does not predict Friday’s settlement price reliably. The expiry covers about 81,700 contracts, according to Deribit data cited by CoinDesk. Each contract represents one Bitcoin, although its notional dollar value changes with the underlying market price. Bitcoin traded near $78,970 at the time of reporting, down approximately 1.4% over 24 hours but still 22.9% higher across seven days. Its daily range extended from about $77,955 to $80,194, according to current Bitcoin market data. Bitcoin options expiry concentrate...