Bitcoin is heading into one of its biggest options expiries of the year, with about $10 billion worth of contracts set to expire on Deribit on June 26 according to Bloomberg. The event comes as the cryptocurrency struggles to recover from recent losses and weaker investor demand.
The world’s largest cryptocurrency dropped below $60,000 on Wednesday, reaching $59,023, its lowest level since October 2024. It later traded around $60,800 in Singapore on Thursday. Bitcoin has now lost more than half its value from its record high and is trading below its 200-week moving average, a level often linked to long periods of weakness.
🚨BREAKING: $10 billion in Bitcoin options is set to expire Friday, with 162,000 BTC worth $10.16 billion on the line, sparking potential market volatility 💥 pic.twitter.com/ENiHFINYUS
— Pulse Alpha (@pulsealpha_) June 25, 2026
Many traders bet on higher prices
Most of the options set to expire were bought by traders expecting Bitcoin’s price to rise. Because the market has moved in the opposite direction, many of those contracts are now worth little or nothing.
Meanwhile, more contracts that benefit from falling prices are concentrated between $60,000 and $75,000. This means traders who expected a decline are currently in a stronger position if Bitcoin remains under pressure.
The weakness is not limited to the options market. US-listed Bitcoin exchange-traded funds have seen nearly $3 billion leave their funds this month, while concerns about borrowing costs and tighter financial conditions continue to weigh on crypto markets.
Will end-of-quarter trading may increase price swings?
The size of the expiry is important, but its timing may matter just as much. The contracts expire near the end of the quarter, when many large investors often reduce risk and adjust their portfolios. Similar large options expiries have triggered sharp moves before.
In March 2024, Bitcoin swung around major options settlements as traders adjusted positions after a strong rally. Similar volatility was also seen during quarterly expiries in June and December 2025, when large amounts of contracts expired and market makers rebalanced their exposure.
While such events do not always determine Bitcoin’s longer-term direction, they can lead to sudden price jumps or drops over a short period. These moves do not always decide Bitcoin’s longer-term direction, but they can create sharp price swings for a short period.
With money leaving Bitcoin investment funds, interest rates remaining high, and billions of dollars in contracts expiring at once, traders will be watching closely to see whether Bitcoin can stay above the $60,000 mark in the days ahead. Bitcoin showed signs of weakening demand in the US market, while steady inflows to exchanges continue to pressure prices.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads, and CoinMarketCap Community for seamless access to high-quality industry insights
Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics tools.
