BTC, ETH fluctuation warning? Deribit has nearly $5 billion in options expiring on (, what should investors follow?

Deribit today (7th) posted on the X platform, stating that tomorrow over $4.9 billion in Bitcoin (BTC) and Ethereum (ETH) options contracts will expire on Deribit. Will the market experience significant fluctuations? (Background: Rich Dad hopes Bitcoin drops below $90,000 in August: BTC crash allows me to double my buy-in, the 'August curse' will only make you richer.) (Context: Bitcoin volatility is scary! Matrixport: If it doesn’t drop below $105,000, there’s a greater chance of an upward trend.) The crypto derivatives trading platform Deribit today (7th) posted on the X platform, stating that tomorrow there will be over $4.9 billion in Bitcoin (BTC) and Ethereum (ETH) options contracts expiring on Deribit: Tomorrow, over $4.9 billion in Bitcoin and Ethereum options will expire on the Deribit platform. Bitcoin: Notional value of $4.15 billion | Put/Call ratio: 1.38 | Max Pain: $115,000 Ethereum: Notional value of $792 million | Put/Call ratio: 1.06 | Max Pain: $3,600 Open Interest (OI) distribution shows that puts are concentrated below the spot price, while calls are concentrated at higher price levels. Do you think this expiration will cause turbulence in the market? Options Expiry Alert Tomorrow, over $4.9B in BTC & ETH options are set to expire on Deribit. $BTC: $4.15B notional | Put/Call: 1.38 | Max Pain: $115K$ ETH: $792M notional | Put/Call: 1.06 | Max Pain: $3,600 OI distribution hints at puts clustered below spot, calls… pic.twitter.com/wF4AEXAv7F — Deribit (@DeribitOfficial) August 7, 2025 Investor Sentiment: Cautious with Divergence Data from the Deribit options market reflects the current investor mindset: the put/call ratio for Bitcoin is as high as 1.38, indicating investors are significantly concerned about a short-term price drop for Bitcoin, which may reflect a cautious attitude towards global economic uncertainties (such as U.S. interest rate policies and Trump tariffs). In contrast, the put/call ratio for Ethereum is 1.06, almost flat, indicating a more neutral market sentiment. This may be related to the recent large-scale adoption of Ethereum by institutions, as well as the potential for staking in U.S. Ethereum spot ETFs, but there seems to be a lack of clear trends in the short term. Additionally, the distribution of open interest further reveals market dynamics: puts are concentrated below the spot price, indicating that investors have set protective positions at lower price levels, which may provide some support for prices; while calls concentrated at high prices may potentially create resistance levels. Market Impact After Expiry: Short-term Fluctuations Inevitable? Such a large-scale options expiration typically has a significant impact on the cryptocurrency market in the short term. First, the massive options expiry may trigger severe price volatility. Bitcoin's $4.15 billion options size far exceeds that of Ethereum, and the maximum pain point of $115,000 could become a short-term resistance level, where institutions or hedge funds may attempt to push prices toward this level to reduce the payment costs of call options. This may lead to downward pressure on Bitcoin around the expiry date. The $3,600 maximum pain point for Ethereum may attract prices towards it at expiry, creating a 'magnetic effect.' At the same time, a large number of options expiring usually accompanies an increase in hedging activities. Market makers and institutions may adjust their positions in the spot or futures markets, increasing trading volume, but may also amplify price fluctuations due to insufficient market liquidity, or even trigger a Gamma Squeeze, causing abnormal price movements. Related Reports: The Rise of Pantera Capital Founder: The Legend of Buying Bitcoin at $65 for 1,000 Times Returns. Empowering Bitcoin DeFi, Bitlayer Launches Token Sale on CoinList. Bitcoin Price Squeezing Altcoins, AI Analysis on Promising Meme Coins for 2025? <BTC, ETH Volatility Alert? Nearly $5 billion in Deribit options set to expire on (, what should investors pay attention to?> This article was first published on BlockTempo, the most influential blockchain news media.