In brief
- A record $31 billion in Bitcoin options are set to expire on Halloween, surpassing last month’s $18 billion despite October’s flash crash that wiped out $19 billion in leveraged positions.
- Open interest at Deribit has reached an all-time high of $50.27 billion, with significant put contracts at $100,000 and call contracts at $120,000 strike prices.
- Bitcoin ETF flows have slowed after strong early-month inflows, while traders anticipate a 97% chance of a Fed rate cut at next week’s FOMC meeting.
There’s roughly $31 billion worth of Bitcoin options set to expire on Halloween next week. That’s a record-high monthly expiry, beating last month’s $18 billion by a wide margin, despite the record-setting liquidation event that followed the Oct. 10 flash crash when $19 billion in leveraged positions were wiped out.
“That event erased roughly $7 billion in BTC options open interest, bringing total open interest down from about $38 billion to near $31 billion, the sharpest weekly contraction since June,” Bitfinex analysts told Decrypt.
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Author: Stacy Elliott
