About 6.7 billions USD to be settled in BTC option market at the end of this 2nd quarter (28Jun)

It’s the last week of the 2nd quarter and, as usual, BTC option market is an area of interest to look into to understand the current market state and potential movement.

Data of option market in deribit (https://metrics.deribit.com/options/BTC) at the time of this writing indicates that there’s a huge amount, in terms of both number and notional value, of option contracts that will be settled by the end of this quarter (28Jun to be precised).

At present, the Max Pain Price is $57k.

Interestingly, a huge amount of Put contracts (option to buy BTC) will be basically worthless if BTC price is below $65K by 28Jun.

Is this the potential reason why the BTC price is being surpressed? It’s whale game so you’ll never know. At least it seems that the Bears are winning and there’s no sights saying this trend will change any time soon.

Fig. 1: BTC option on Deribit – data on 22Jun