Traders are bracing themselves as the expiry date for a colossal amount of Bitcoin options fast approaches.

A total of $17 billion in digital assets options — more than $14.5 billion in Bitcoin — are set to expire on crypto derivatives platform Deribit on Friday.

“This is a huge expiry, large enough to influence spot prices,” Daniel Reis-Faria, CEO of ZeroStack, told DL News.

A Bitcoin options contract gives the trader the right, but not the obligation, to purchase the underlying asset at a specific price on a future date.

This means traders don’t have to buy the Bitcoin when the contract expires, but they can if they want to.

The expiry date falls on the same day that US President Trump set as the deadline…