Boxing Day Mega Sale: $27 Billion Worth of Bitcoin and Ethereum Options Will Reset by Year-End

2025-12-22 10:25:55

On Friday, the Crypto Assets market will face a significant structural adjustment, with $23.6 billion in Bitcoin Options and $3.8 billion in Ether Options expiring on Deribit, coinciding with the Christmas holiday “Boxing Day”. Over 50% of the exchange's open contracts are affected, with a put/call options ratio of 0.38, indicating strong bullish sentiment in the market. The maximum risk level for Bitcoin is at $96,000, while the maximum risk level for Ethereum is at $3,100, which may drive prices up. Most of the open contracts are concentrated in Bitcoin call options between $100,000 and $116,000, while the $85,000 put options represent the largest downside bet. Some put options expiring in December will extend to January. Despite active trading, the liquidity decline due to the holiday and macroeconomic uncertainty has limited market confidence, with Bitcoin's DVOL dropping from 63% in November to 45%, indicating a pessimistic outlook on volatility.

BTC-0.45%

ETH-0.02%

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