$13B Bitcoin Options Expire June 26, Put Holders Hold Structural Advantage

BTC1.14%
According to BlockBeats, $13 billion in Bitcoin options are set to expire on June 26, with current market structure significantly favoring put holders. Deribit hosts $10.4 billion in open interest (79% of market share), including $6 billion in call options, though 78% are concentrated at $72,000 and above—increasingly out-of-the-money as Bitcoin trades near $63,000. Call holders would need a 12% price rebound to flip outcomes in their favor. Put holders control a more balanced structure, with only 28% betting on Bitcoin dropping below $57,000. Across all scenarios at expiration, puts maintain an estimated net advantage of $1–3.4 billion.
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