Crypto Markets on Edge as $2.1B Options Expiry Event Unfolds

A significant Bitcoin options expiry event is taking place today, June 19, with around 30,500 contracts worth $1.9 billion set to expire. The notional value of these contracts is roughly $2.1 billion when combined with the Ethereum options expiry.

Crypto markets have been experiencing a week of 'grinding calm', according to Laevitas, with minimal volatility and a decline in fear-based trading. However, this could change with the impending expiry event.

Bitcoin's spot price is currently around $62,800 after falling from its intraday high of $64,500. Ethereum has also dropped 3% on the day and is nearing its lowest levels for over a year.