Bitcoin, Ethereum options worth $6 billion expires

Bitcoin and Ethereum contracts worth more than $6 billion expired on August 14, 2025 at Deribit, cryptocurrency derivatives exchange, with BTC’s break even point set at $117,000 and ETH’s at $4,000.

Bitcoin traded at $118,995 and Ethereum at $4,629 as of expiry.

Crypto sector's biggest coin by market capitalization put-call ratio (PCR) at 0.90, indicating slightly more calls than puts despite BTC trading above its strike price.

“The notional value for bitcoin options reached $4.78 billion, with open interest at 40,185 contracts,” the Deribit site data shows.

Ethereum’s PCR stood at 1.02, signaling a balanced market with a slight tilt toward sell options. Expiring ETH derivatives carried a $1.33 billion estimated worth and 287,946 contracts in open interest.

Financial experts believe this expiry comes amid market behaviour of last week’s pullback after unexpected U.S. inflation data. PPI inflation hit 3.7% versus 2.9% expected, its highest since March 2022.

The exchange platform saw a record $10.9 billion in daily options volume, breaking the $10 billion mark for the first time.

Bull market sentiment remains split, traders expect momentum to push BTC toward $122,000 and ETH to $4,700, while few see peak unsettled contracts near all-time highs as a sign of a temporary up.