Crypto market participants are bracing for the monthly options expiry after a recent rebound in Bitcoin, Ethereum and XRP. Traders anticipate massive volatility as the crypto market still remains under ‘extreme fear’ sentiment.
BTC price rebounded by more than 10% in a week amid massive buy-the-dip sentiment and a seasonal boost between Thanksgiving and Christmas. But experts such as Deribit and Glassnode expect consolidation in December as liquidity thins.
Will Crypto Market See Profit Booking amid Bitcoin Options Expiry?
According to Deribit, more than 147K BTC options with a notional value of $13.42 billion are set to expire on Friday. The put-call ratio is 0.56, which indicates positive sentiment among traders for an uptrend.
Bitcoin Open Interest and Max Pain Price. Source: DeribitMeanwhile, Bitcoin max pain price is at $100K. Also, puts exceed calls at $100K and $90K, signaling bearish bias among options traders. In the last 24 hours, put volume has significantly soared to exceed call volume. The put/call ratio of 1.12 signals bearishness and hedging to offset losses.
“Positioning appears to have stabilized following recent volatility, with open interest now clustering around the $100K level, despite the fear,” said Deribit.
Glassnode claims Bitcoin is stuck within range as liquidity shrinks and realized losses surge. The crypto market braces for a selloff as futures deleverage, options stay defensive, and demand remains weak. BTC price needs to break above the $93K-$96K buyers’ supply cluster for upside momentum.
Bitcoin Cost Basis Distribution Heatmap. Source: GlassnodeBTC price is currently trading above $91K due to higher odds of a 25bps Fed rate cut in December. But trading volume has dropped by 30% over the past 24 hours, indicating traders remain cautious.
Crypto Market Closely Watching Ethereum Options Expiry
Over 574K ETH options with a notional value of $1.73 billion are set to expire on Deribit, with a put-call ratio of 0.48. The low ratio indicates more call bets amid positive sentiment due to the crypto market rebound.
Moreover, the max pain price is at $3,400, higher than the current market price of $3,014 at the time of writing. Calls are higher than puts at the max pain price, with traders expecting a rebound in the coming days.
ETH Open Interest and Max Pain PriceIn the last 24 hours, call volume by expiration is higher than put volume. However, 24-hour puts exceed calls, with a put/call ratio of 1.78.
Deribit says “ETH remains a battlefield.” Following the recent deleveraging across crypto markets, crypto market sentiment has improved to a more neutral stance around a key support and resistance zone.
XRP Consolidates Amid Monthly Expiry
XRP options worth $15 million to expire, with a put-call ratio of 0.41. The max pain price is at $2.30, indicating the key level to watch as the crypto asset falters amid selloffs by whales.
XRP Max Pain PriceAs CoinGape reported, veteran trader Peter Brandt predicted XRP rally in the coming months. Other crypto analysts expect XRP price to move toward the $2.60 level following a rebound from the bottom of the channel.
XRP price fell nearly 1% in the last 24 hours, currently changing hands at $2.19. The 24-hour low and high are $2.17 and $2.23, respectively. Moreover, trading volume has declined by more than 30% over the last 24 hours, indicating low interest among traders due to options expiry.
Also Read: New Cryptocurrencies To Invest In November 2025
Source: https://coingape.com/how-will-crypto-market-react-to-over-15b-in-bitcoin-eth-xrp-options-expiry/
