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Bitcoin's $16 billion quarterly options settlement arrives with a 'call-heavy' book

Nearly $18 billion in bitcoin and ether options will expire on Friday, potentially reshaping dealer hedging flows and short-term volatility.

Why it matters

BTC (Bitcoin) · Why linked: The $16B Bitcoin options settlement directly affects BTC price dynamics and dealer hedging flows. Market context: A call-heavy options expiration could amplify short-term volatility and create pinning effects near the max pain strike.

ETH (Ethereum) · Why linked: Nearly $2B in ether options are also expiring alongside Bitcoin, affecting ETH positioning. Market context: Large ETH options settlement may influence near-term price action and dealer gamma exposure.

How BTC usually react

This story is too recent for its own reaction record — we score each asset against the actual price move 24h after publication. These are the long-run figures across every event we have tracked for them.

AssetEventsAvg max moveClosed lower
BTC4+1.58%25%

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How the reaction data is measured · Editorial policy