deribit

According to CoinDesk, Deribit Chief Commercial Officer Jean-David Péquignot stated that $60,000 is a key structural threshold for Bitcoin. Over the past year, a large amount of institutional funds (including ETF buyers, large holders, and short-term speculators) have bought Bitcoin in the $60,000 to $67,000 range. If the price continues to decline, unrealized losses will increase, and holding costs will rise, especially against the backdrop of rising AI stocks, which may prompt panic selling among investors. The open interest of put options with a strike price of $60,000 on Deribit has a notional value of over $1.2 billion.As Bitcoin approaches $60,000, market makers face Gamma risk from shorting put options and will be forced to sell spot or futures to balance their books, accelerating the decline. In addition, there is still excessive leveraged long positions in the system, and a drop below $60,000 could trigger more liquidations, creating a chain reaction.

Lin Chen, the Head of Asia-Pacific Business at Deribit, posted on platform X that a certain options trader bought 800 BTC in a bull spread, purchasing $80,000 in call options and selling $85,000 in put options, as the trader is optimistic about BTC prices rising at the beginning of this month.

According to CoinDesk, the open interest (OI) of the Bitcoin spot exchange-traded fund IBIT under BlackRock once surged to $27.61 billion, surpassing the $26.9 billion scale of the Bitcoin options market on the crypto derivatives platform Deribit for the first time. Analysts believe this milestone indicates that the institutionalization process of the Bitcoin market in the United States is accelerating.Additionally, according to Volmex data, the open interest volume of IBIT call options suggests that its call options primarily expect the Bitcoin trading price to rise to $109,709, which is about 41% higher than the current market price of $77,400. Furthermore, the average expiration date of IBIT options is also about two months longer than that of Deribit, indicating stronger bullish sentiment and a preference for longer-term holdings.

Deribit officially tweeted that tomorrow at 08:00 UTC (16:00 Beijing time), approximately 2.1 billion dollars worth of cryptocurrency options will expire on the platform.Among them, the notional value of BTC options is about 1.63 billion dollars, with a put/call ratio of 1.02, having flipped from bullish dominance to bearish dominance since last week; the notional value of ETH options is about 445 million dollars, with a put/call ratio of 0.94, and the open interest (OI) for Ethereum has increased week-on-week.Deribit pointed out that despite overall market volatility, both major assets are currently operating below their maximum pain price levels. The maximum pain for BTC is 71,000 dollars, and for ETH it is 2,250 dollars.

According to Onchain Lens monitoring, a certain whale purchased 4,000 ETH on Deribit for a price of 8.55 million dollars.

According to market news, approximately $16.38 billion worth of Bitcoin and Ethereum options will expire this Friday. Among them, 199,000 Bitcoin options will expire, with a notional value of $14.16 billion, a maximum pain price of $75,000, and a put/call ratio of 0.63.At the same time, Ethereum options with a notional value of $2.22 billion will expire, with a maximum pain price of $2,300 and a put/call ratio of 0.57.

Coindesk analyst Omkar Godbole stated that Bloomberg has reaffirmed its prediction: Bitcoin could drop to $10,000------a price level not seen since mid-2020. Industry observers believe this prediction is overly absurd.However, on the largest crypto options trading platform Deribit, about $800 million in open positions are concentrated on $20,000 put options, betting that the price will fall below that level. This is the fourth most popular bearish bet on the platform. This indicates that some traders are preparing for a possible crash. But Deribit stated that not all positions are direct bets against a price crash.Deribit’s Global Retail Sales Head Sidrah Fariq said, "Most positions are more like selling put options rather than directional long hedges. Traders often sell out-of-the-money put options because the probability of reaching those levels is low." Meanwhile, Bitcoin has shown remarkable resilience, maintaining around $70,000 even as crude oil prices rebounded, pushing benchmark oil prices close to $100 in the early session, shaking traditional markets. Ethereum, XRP, and SOL have also remained strong, while HYPE tokens rose about 10% within 24 hours.Analysts say that excessive leverage is being cleared from the Bitcoin market, paving the way for price increases. Diana Pires, Vice President of Sales at crypto platform sFOX, stated in an email, "From a market structure perspective, this consolidation could be constructive, as reducing leveraged positions often lays a more stable foundation for the next wave of movement once clearer macro catalysts emerge."

According to Arkham data, at 09:50, 275.83 BTC (worth approximately 10.29 million USD) was transferred from an anonymous address (starting with bc1qnec...) to Deribit.

According to market news, large Bitcoin ETF holders and treasury companies have recently concentrated their purchases of BTC put options with a strike price of $60,000 and below, with maturities of 6 months and 1 year on Deribit, as a hedge against a price drop below $60,000.Deribit stated that the open interest for BTC put options with a strike price of $60,000 has risen to approximately $1.5 billion, the highest among all strike prices and maturities on the platform, indicating a significant increase in demand for medium to long-term downside hedging. Currently, Bitcoin spot is fluctuating around $67,000, but the implied volatility of 30-day put options is about 7% higher than that of call options, indicating that the options market still favors downside protection.

A whale wallet with an address of 0x166f has withdrawn 20,000 Ethereum (worth approximately $38.25 million) from Binance and Deribit exchanges in the past 2 hours.

Péquignot stated that if Bitcoin's closing price falls below the key support level of $60,000, the next possible target is $58,000. This moving average is widely regarded as an important indicator for "bottom seekers," and since 2015, several bear market lows have approached this moving average.Currently, Bitcoin has maintained a trading range of $60,000 to $70,000 over the past week, down about 45% from the historical high set in October, and is heading towards a fourth consecutive week of decline.

According to Arkham data, at 12:46, 157.24 BTC (worth approximately $11,119,400) was transferred from one anonymous address (starting with bc1qn7a0h9...) to another anonymous address (starting with bc1qtghdkd...). Subsequently, the address transferred 20 BTC to Deribit.

As Bitcoin saw a significant drop on Thursday, the volatility in the options market surged notably, with the Deribit Bitcoin Volatility Index (DVOL) rapidly climbing from around 37 to above 44, marking the largest increase since November 2024.DVOL is regarded as the "VIX" of the crypto market, reflecting the options market's expectations for price volatility over the next 30 days. An upward movement in this indicator suggests that traders are paying higher premiums for downside risk, leading to rising options prices and increased market risk aversion. This spike in volatility occurred amid a resurgence of macroeconomic uncertainty, including rising risks of a U.S. government shutdown and noise surrounding the future leadership of the Federal Reserve. However, in historical terms, Bitcoin's implied volatility has not yet reached extreme levels.

According to Cointelegraph, the cryptocurrency options exchange Deribit pointed out that Bitcoin's recent price has been suppressed around $90,000, mainly due to a large number of open interest concentrated near the current strike price, especially ahead of the massive expiration date on January 30. This means that market risk exposure is primarily constructed through options rather than high-leverage futures, with traders using hedging and structured strategies to manage risk.Deribit analysis indicates that high options trading volume (especially short-term put options) suggests that capital is still in the market, but risk control is stricter, with short-term price behavior being driven more by position structure rather than external news. Bitcoin has been oscillating in the range of $85,000 to $95,000 since mid-November. This Friday will see the expiration of Bitcoin monthly options with a notional value of about $8.4 billion, with a put/call ratio of 0.54, and the maximum pain point located at $90,000, while open interest is most concentrated around the $100,000 strike price.

Tomorrow at 16:00 (UTC+8), the Deribit platform will have over 2.1 billion USD in cryptocurrency options expiring, including: BTC options with a notional value of 1.81 billion USD, a Put Call Ratio of 0.74, and a maximum pain point of 92,000 USD; ETH options with a notional value of 337 million USD, a Put Call Ratio of 0.88, and a maximum pain point of 3,250 USD.

According to The Block, Coinbase's crypto derivatives platform Deribit has launched TRX options for eligible Deribit users in certain jurisdictions.The newly launched options offer two daily expirations, two weekly expirations, one monthly expiration, and one quarterly expiration, further expanding the application of institutional-grade derivatives within the TRON ecosystem.

Deribit Asia Pacific Business Head Lin Chen posted on X that a certain investor made a single payment of $1.14 million in premium to buy 1,200 BTC call options at $98,000 for the end of January, making two consecutive purchases. This means a total bet of over $2 million, optimistic about a short-term surge.

According to on-chain analyst @ai 9684xtpa, a trader has made a significant "straddle" options strategy at the Deribit exchange, investing approximately $2.36 million betting that the price of Bitcoin will experience significant volatility by the end of March.The trader simultaneously purchased 660 BTC call options with a strike price of $120,000 (costing about $860,000) and 660 BTC put options with a strike price of $80,000 (costing about $1.5 million), all set to expire on March 27, 2026. This strategy indicates that the trader expects the BTC price to potentially fluctuate upwards by nearly $28,000 or downwards by $12,000.

According to on-chain analyst @ai_9684xtpa, a trader bought 3,000 call options for BTC with a strike price of $100,000 expiring on January 30, 2026, spending a total of $2.86 million in premiums.If held until expiration, if BTC does not exceed $100,953.67 on that day, there will be a loss, and if it does not exceed $100,000, the entire $2.86 million will be lost.