The Bitcoin and crypto market eagerly observed the expiry of the quarterly BTC and ETH options today (at 8:00 am UTC / 4:00 am EST). It was the second largest in history with a volume of 159,000 BTC options and 1.25 million ETH options with a total value of almost $7 billion. The market was expecting a sharp increase in volatility, but it failed to materialize. In the run-up, the BTC price briefly spiked as high as $31,300 before seeing a pullback towards $30,700. The event has thus pretty much become a nothing burger. Options analysts at Greeks.Live confirmed a few minutes ago that the quarterly expiration has been completed, with more BTC block calls being traded in the last few days, mainly to close and roll positions at the end of the quarter, with ETH being mainly in the order book, adding: With the quarterly expiry, the market has seen a release of positions that have built up in recent months, and options could see a larger shift if the market supports it in July. Although volatility levels have risen this ..
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