In total, the $5.8 billion in options set to expire represents 33% of all outstanding contracts currently on Deribit, making this one of the most significant expiries of the year and one that could shape the market's direction in the near term.

Bitcoin BTC +0.70% traded flat in the past 24 hours, changing hands at $63,568 at 12:03 a.m. ET, according to The Block’s Price Page. The price of ether decreased by a muted 0.6% to $2,601 in the same period.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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