Record $28.5B in BTC and ETH Options Set to Expire Friday

Bitcoin traded below $90,000 on Dec. 23 as thin Christmas holiday liquidity, a rally in precious metals and an upcoming record options expiry weighed on the market, BlockBeats reports. Around 300,000 BTC options contracts worth about $23.7B—representing more than half of Deribit's total bitcoin open interest—are set to expire Friday. Deribit Chief Commercial Officer Jean-David Pequignot said the combined BTC and ETH options expiry will reach $28.5B, describing it as record-breaking and roughly double last year's size, with analysts warning the expiry could amplify price swings.