Data shows that approximately $3 billion in Bitcoin options and $1.8 billion in Ethereum options are set to expire on September 29.
Luuk Strijers, Chief Commercial Officer of Deribit, pointed out the similarities between the cryptocurrency market and traditional finance when approaching option expiry dates, especially quarterly expirations, which he noted can result in huge trading volumes and volatility.
While the Bitcoin Volatility Index, which tracks Bitcoin options traders’ views on volatility over the next 30 days, is hovering near all-time lows, it has risen over the past month, according to The Block’s data dashboard.