Crypto Traders Eye $6.8B Bitcoin and Ether Options Expiry

The bullish buzz returned to the crypto market last week as bitcoin (BTC), the leading cryptocurrency by market value, jumped more than 15% in its best performance since March. Now a significant event looms on the horizon. On Friday at 08:00 UTC some 150,633 bitcoin options contracts worth $4.57 billion and 1.23 million ether contracts valued at $2.3 billion will expire on the Panama-based Deribit exchange, which controls over 85% of the global options activity. In Bitcoin's case, investors have recently bought call options with strike prices at and above $30,000.

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