Key Points
- Over $2.5 billion in Bitcoin and Ethereum options are set to expire during heightened market volatility.
- BTC and ETH prices fell sharply amid liquidations, ETF outflows, and broader market weakness.
Deribit published updated options expiry data on February 5 as the broader crypto market declined more than 7% in 24 hours.
Total crypto market capitalization fell to approximately $2.37 trillion, while the Fear and Greed Index signaled Extreme Fear.
BTC and ETH options expiry overview
More than $2.5 billion in crypto options are scheduled to expire on February 6 at 08:00 UTC on Deribit.
Approximately $2.15 billion in Bitcoin (BTC) options will expire with a put/call ratio of 1.42 and a max pain level near $82,000.
Ethereum options totaling about $408 million are also set to expire, showing a put/call ratio of 1.13 and a max pain point around $2,550.
Deribit data indicated that open interest for BTC options is concentrated between the $80,000 and $90,000 price levels.
Recent market price movements
Both major digital assets posted significant losses, extending a broader downward price trend observed in recent sessions.
At the time of reporting, BTC was trading above $69,000, representing a decline of roughly 8.5% over the past day.
BTC fell from levels above $76,000 on February 4, influenced by large-scale liquidations and outflows from spot ETFs.
More than $1.07 billion in crypto positions were liquidated in 24 hours, with BTC accounting for over $531 million, primarily from long positions.
ETH traded above $2,050, down more than 7.6% on the day, after declining from levels above $2,200 earlier in the month.
ETF data showed ETH products recorded net outflows above $79 million, following modest inflows the previous day.
Institutional flows into BTC ETFs weakened after February 2, with nearly $545 million in net outflows reported on February 4.
Market participants continue to monitor derivatives expiries and institutional positioning as price volatility remains elevated across digital assets and traditional markets.
