Bitcoin and Ethereum Traders Prepare for Options Expiry

As the cryptocurrency market continues to navigate its recent rally and decline, traders are keeping a close eye on the upcoming Bitcoin and Ethereum options expiry.

According to Greeks.live, 21,000 Bitcoin options expired on May 22, carrying a notional value of $1.6 billion. The data also showed 129,000 Ethereum options expired, with a notional value of $280 million.

The expiry came after Bitcoin's one-and-a-half-month rally lost momentum, with the cryptocurrency trading near $77,500 on May 22. Meanwhile, Ethereum held close to $2,130.

Greeks.live reported that market activity stayed muted this week, with less than 5% of Bitcoin options expired and a similar share for Ethereum. This points to a lighter expiry compared with larger monthly settlement events.