Overview
- Deribit’s options batch, which settled Friday, totaled $2.6 billion across Bitcoin, Ethereum, XRP and Solana and sparked broad liquidations.
- About 25,000 Bitcoin options worth over $2 billion expired with a max‑pain level near $80,000, the price that leaves most option buyers with the least profit.
- Bitcoin’s put‑call ratio of 0.57 pointed to more call bets than puts, yet options pricing showed traders paying up for short‑term downside protection.
- Fresh CPI and PPI readings pushed Treasury yields to 12‑month highs, and futures tracked by CME showed 44% odds of a Fed rate hike by December.
- XRP fell from $1.55 to $1.45 and Solana slipped about 3% as positions were reset, while Glassnode flagged weaker new money into Bitcoin than in past bull runs.