Bloomberg: $10 billion in Bitcoin options set to expire, potentially triggering deeper sell-off

CoinFeed June 25 news, according to Bloomberg, Deribit will see approximately $10 billion notional value in Bitcoin options expire on Friday, accounting for about 37% of total open interest. The put-call ratio is 0.83, indicating that bullish bets still dominate, but most call options are now out-of-the-money, while put options are concentrated in the $60,000 to $65,000 and $70,000 to $75,000 ranges, suggesting that bearish bets are more likely to profit. Deribit Chief Commercial Officer Jean-David Pequignot stated that this is an options portfolio positioned for high prices in the medium term, which is now being tested by the decline in spot prices.