More than $6 billion, the largest ever Bitcoin option contract will expire on March 26, which is equivalent to 100,400 Bitcoins.The previous record came in January 2021, when nearly $4 billion worth of options expired, representing 36 percent of open futures contracts.The reason why the volume of options contracts expired this time is so large because the market interest in Bitcoin options has increased dramatically.The options market size and the number of open positions are increasing, so is the influence on the spot market. As we all know, the derivatives market is an important tool for spot market price.In the traditional gold, stock, and other financial markets, the derivatives market\u2019s size is usually several times the size of the spot market. But in Bitcoin, the situation is the opposite, the Bitcoin spot market is now several times the derivatives market, but investors want to look for price from the futures market and assess the market atmosphere.Sam Bankman-Fried, CEO of cryptocurrency derivatives exchange FTX, said\uff1aBitcoin derivatives have been the main pulling force in the spot market for several years, and since 2018, derivatives-driven spot markets have appeared more frequently than spot-market-driven derivatives.Shaun Fernando, head of risk and product strategy at Deribit, a cryptocurrency derivatives exchange, said\uff1aAs the number of open positions increases, so does the impact of options on the spot market. How much influence will remain is to be seen, but the choice of large whale trading will have an impact on the price of the BTC. Options can also be considered as one of several leading indicators of the spot market.Over the past week, Bitcoin is seeing a decline in price, from the $60,000 range on March 19 to the $50,000 range on March 25. This decline has led investors to question the real value of Bitcoin and wonder\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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