Will Crypto Markets Surge Higher When $5B Bitcoin Options Expire

Round 40,000 Bitcoin choices contracts will expire on Friday, August 15, and so they have a notional worth of roughly $4.8 billion.

This expiry occasion is barely bigger than last week’s, however it’s nonetheless unlikely to be sufficient to affect spot markets, which have notched all-time highs by way of market capitalization this week.

Bitcoin Choices Expiry

This week’s tranche of Bitcoin choices contracts has a put/name ratio of 0.90, that means that there are virtually as many lengthy contracts expiring as shorts, and the bulls and bears are evenly matched.

Open curiosity (OI), or the worth or variety of BTC choices contracts but to run out, is highest at $140,000, which has surged to virtually $3.2 billion at this strike worth on Deribit. There’s additionally round $2.4 billion OI at $120,000 strike worth because the bull speculators load up on contracts and dwindling OI for decrease strike costs.

Moreover, whole Bitcoin futures OI at present stands at $83.3 billion, which is close to file highs, according to CoinGlass.

Greeks Reside, a crypto derivatives supplier, said this week that the group was predominantly bullish, “with robust momentum in each BTC and ETH, with merchants actively promoting places and holding lengthy positions which might be deeply in revenue.”

“Key sentiment revolves round continued put promoting methods and pleasure about ETH’s distinctive efficiency, although some concern exists about excessive volatility ranges.”

Greeks added that buying and selling quantity reveals the market’s enthusiasm for buying and selling as Deribit traded $10.9 billion in choices on Thursday, breaking the $10 billion mark for the primary time in a single day.

As BTC hit a brand new all-time excessive and ETH neared its all-time excessive, the market skilled an sudden correction, primarily triggered by an unexpectedly robust PPI studying.
There have been no main adjustments within the choices market, with no important adjustments in the principle time period IV and… pic.twitter.com/sWWOp3KVXE

— Greeks.reside (@GreeksLive) August 14, 2025

Along with right this moment’s batch of Bitcoin choices, there are round 287,000 Ethereum contracts which might be additionally expiring, with a notional worth of $1.3 billion, and a put/name ratio of 1.0. This brings Friday’s mixed crypto choices expiry notional worth to round $6.1 billion.

Crypto Market Outlook

Complete market capitalization hit an all-time high of $4.25 trillion this week, however it’s nonetheless smaller than America’s largest company, Nvidia, and simply 18% of gold’s whole market cap of almost $23 trillion.

Nevertheless, markets had began to chill off by Friday, with whole cap dropping 4% to $4.1 trillion on the time of writing.

Bitcoin led the losses, falling 3.8% to beneath $118,000, however managed to regain slightly composure in the course of the Friday morning Asian session because it nudged again towards $119,000.

Ethereum additionally cooled from current four-year highs, sliding beneath $4,500 on Thursday earlier than recovering to commerce at $4,630 on Friday morning. Altcoins have been additionally dumping arduous regardless of elevated calls for altseason … it’s not right here but!

A acknowledged sample of Asia shopping for and the USA promoting has began to kind this week.