A large volume of Bitcoin options is about to expire, which could impact the next short-term price movement for BTC.

Around $1.8 billion worth of Bitcoin options contracts are set to expire today. This could impact price movements as Open Interest has topped 300,000. Open Interest (OI) is the total number of outstanding derivative contracts that have not been settled.

Bitcoin options are contracts that allow traders to speculate on the price of BTC. They allow traders to buy or sell Bitcoin at a specific price, the strike price, at a certain date of expiry.

Industry analyst Colin Wu reported that the put/call ratio was 0.66. However, Deribit currently has the 24-hour ratio at 0.81, meaning that longs and shorts are more closely aligned.

(By Martin Young)

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