2025-12-26 08:31:57

Today is the annual options expiration day, also breaking the record for the largest cryptocurrency options settlement volume in history. This round of settlement involves a notional value of approximately $28 billion, and market volatility should not be underestimated.

On the Bitcoin side, 267,000 BTC options are about to expire, with a total notional value of around $23.6 billion. Interestingly, the put/call ratio is only 0.35, indicating that market bullish sentiment for BTC is significantly stronger. The maximum pain point is set at $95,000, which has become a key support level on the settlement day.

Regarding Ethereum, 1.28 million ETH options are pending settlement, which is also quite substantial. Such large settlement days often bring market volatility, whether from institutional hedging or retail bottom-fishing, and can cause noticeable price impacts during the settlement period. For traders, closely monitoring these data changes can help better grasp the market rhythm.

BTC-0,5%

ETH-0,75%

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GreenCandleCollector

· 11h ago

$28 billion big delivery, just hearing about it makes me tense. This time, it's really going to bleed. --- If 95,000 can't hold, we'll just go all-in and buy the dip. Anyway, we're already here. --- Put/Call ratio is only 0.35? These people are really all bullish, huh? --- 128,000 ETH options. As soon as this data came out, I knew it was going to explode. --- Every time there's such a big delivery, I bet the market will reverse and dump, but I keep getting proven wrong. It's hilarious. --- The key support points have all been identified. The institutions should start placing orders this afternoon, right? --- If this wave drops below 95,000, our bullish dream will be over. --- The scale of institutional hedging is so large, it shows they're also panicking, doesn't it?

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WalletDoomsDay

· 13h ago

$28 billion in settlement volume, and so many bullish signals. Fine, keep betting on BTC breaking $100,000. Anyway, I'm used to it.

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CoffeeNFTrader

· 13h ago

28 billion big settlement day, I've already been holding at 95k for a long time. Looking at the bearish and bullish ratios, the 0.35 data showing extreme bullishness is indeed a bit crazy.

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ForkItAllDay

· 13h ago

$28 billion settlement day, the bullish sentiment is really strong. Let's see if the $95K can hold.

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ExpectationFarmer

· 13h ago

$28 billion settlement, 0.35 put/call ratio... This bullish sentiment is really getting a bit excessive, I think it will lead to a sell-off.

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CryptoTarotReader

· 13h ago

$28 billion feast, why is the bullish sentiment for BTC so strong? I bet $95,000 can't hold up --- Put/Call ratio is only 0.35, these people are really bullish, a bit worried --- Every major delivery day is a slaughterhouse, retail investors are about to be harvested again --- 128,000 ETH waiting to be dumped, I don't believe it can pass smoothly --- Can the $95,000 level be held? Feels a bit mysterious --- Over $20 billion in delivery volume, who can predict what will happen next... --- The higher the bullish ratio, the more uneasy I feel, the tricks are deep

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RugPullSurvivor

· 13h ago

$28 billion big settlement, whether this wave can withstand $95K depends on how institutions throw their weight around

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