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\n\t\t\t\t\t\t\t\t\tThe end of another week has arrived, and with it another batch of expiring crypto options as spot markets turn red once again.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Around 30,500 Bitcoin options contracts will expire on Friday, June 19, with a notional value of roughly $1.9 billion. This event is slightly smaller than last week\u2019s and still not enough to impact spot markets.<\/p>\n
Crypto markets gained slightly before retreating in the second half of the week, with total capitalization hovering around the $2.25 trillion level and $70 billion leaving the space since Monday.<\/p>\n
A signed peace deal between the US and Iran has not improved sentiment, while the new Federal Reserve Chair, Kevin Warsh, left rates unchanged<\/a> as expected on Wednesday, but hikes could be on the cards if inflation continues to climb.<\/p>\n This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 0.78, meaning that sellers of long (call) contracts slightly outweigh short (put) contract sellers. Max pain is around $65,000, which is around $2,000 higher than current spot prices, so many will be at a loss on expiry.<\/p>\n Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $80,000 strike price on Deribit, with $1.6 billion, but short sellers still have $1.3 billion in OI at $60,000. Total BTC options OI across all exchanges has been climbing over the past week, and is at $36 billion, according to Coinglass.<\/p>\n Derivatives provider Greeks Live said<\/a> this week that the $60,000 strike functions as a \u201ccritical threshold.\u201d<\/p>\n \u201cA sustained breach below this level would shift dealer hedging flows from stabilizing to directionally reinforcing, increasing the probability of an accelerated move lower,\u201d it added.<\/p>\n<\/blockquote>\n Meanwhile, the $70,000 to $82,000 levels act as a \u201cpositive gamma range\u201d where activity is expected to provide a \u201cnatural dampening effect on volatility.\u201d<\/p>\n \u201cA week of grinding calm has gutted the front of the BTC volume surface,\u201d commented derivatives analytics provider Laevitas.<\/p>\n<\/blockquote>\n 1\/ Midweek Crypto Derivatives Report A week of grinding calm has gutted the front of the bitcoin:native vol surface. Seven-day ATM IV has fallen from roughly 46 to 36 while the back barely moved near 43; the curve that was inverted a week ago \u2013 a classic fear-front -\u2026 pic.twitter.com\/IGSHaQFna1<\/a><\/p>\n \u2014 Laevitas (@laevitas1) June 18, 2026<\/a><\/p>\n<\/blockquote>\n In addition to today\u2019s tranche of Bitcoin options, around 137,600 Ethereum contracts are also expiring, with a notional value of $234 million, max pain at $1,725, and a put\/call ratio of 1.0. Total ETH options OI across all exchanges is around $6 billion.<\/p>\n This brings the total crypto options expiry notional value to around $2.1 billion, which is a relatively small expiry event.<\/p>\n Crypto markets are in the red this Friday morning in Asia, with total capitalization tanking 2.4%.\u00a0Bitcoin has fallen from its intraday high of $64,500 to around $62,800 at the time of writing, and another retest of the lows looks likely as momentum wanes.<\/p>\n Ethereum has lost 3% on the day and is about to fall below $1,700 again as it trades near its lowest levels for over a year.\u00a0Altcoins suffering heavier losses include Hyperliquid, Zcash, Sui, and Avalanche.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\nBitcoin Options Expiry<\/h2>\n
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2026-06-18<\/p>\nSpot Market Outlook<\/h2>\n
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