Deribit’s June $17B Crypto Options Expiry Amplifies Bitcoin Volatility, July Sees $15.45B Drop
Deribit, the largest cryptocurrency options exchange, reported a record $17 billion in crypto options expirations during June 2025, marking a pivotal moment in the industry’s derivatives landscape. This figure, the highest on record for the platform, exceeded previous monthly expiries and highlighted the growing influence of options trading on assets like Bitcoin (BTC) and Ethereum (ETH) [1]. The June expiries, part of Deribit’s quarterly “H1 expiry” cycle, involved $15 billion in BTC options and $2.3 billion in ETH options, underscoring institutional participation and bullish sentiment as both assets traded above critical levels [1].
The expiry event occurred as BTC and ETH remained above “max pain” levels, reducing fears…
