Almost $6.3 billion of BTC options are set to expire on April 26, signaling potential downside price volatility that could see Bitcoin fall to the $61,000 mark. Bitcoin and crypto market recovery is expected by traders after the crypto market expiry, likely stopping profit-taking on downside hedges.

近 63 億美元的 BTC 選擇權將於 4 月 26 日到期，這表明潛在的價格波動可能導致比特幣跌至 61,000 美元大關。交易員預計比特幣和加密貨幣市場將在加密貨幣市場到期後復甦，這可能會阻止下行對沖獲利了結。

Bitcoin Price Recovery After Options Expiry?

Over 96k Bitcoin options of $6.2 billion in notional value are set to expire on Deribit on April 26. The put-call ratio is 0.68, indicating a rise in put options recently as monthly expiry approaches. The max pain point is $61,000, below the current price. The market can expect huge volatility with a pullback in price expected on the expiry day.

期權到期後比特幣價格回升？的臨近，看跌期權最近有所增加。最大痛點是 61,000 美元，低於當前價格。市場預計會出現巨大波動，預計到期日價格將會回檔。

Moreover, 990k Ethereum options of notional value $3.1 billion are set to expire, with a put-call ratio of 0.51. The max pain point is $3,100, with the ETH price currently trading above the max pain point at also higher than the current price of $3,141.

此外，名義價值 31 億美元的 99 萬份以太坊選擇權即將到期，賣權與買權比率為 0.51。最大痛點是 3,100 美元，目前 ETH 價格高於最大痛點，也高於目前價格 3,141 美元。

Deribit revealed that realized volatility has surged as BTC Volatility Index (DVOL) saw a sharp increase as crypto options expiry comes near.

Deribit 透露，隨著加密貨幣選擇權到期日臨近，比特幣波動率指數（DVOL）急遽上升，實際波動率大幅上升。

Options expert Greekslive said low crypto market volume this week pushed Bitcoin and Ethereum prices to trade near support levels. This weakness in the market caused significant declines in implied volatility (IV) across all major terms, with Dvol down as much as 15% since the halving. The lack of volatility in the market led to selling of large numbers of options.

選擇權專家 Greekslive 表示，本週加密貨幣市場成交量較低，推動比特幣和以太幣價格接近支撐位。市場的疲軟導致所有主要術語的隱含波動率 (IV) 大幅下降，自減半以來 Dvol 下跌了 15%。市場缺乏波動性導致大量選擇權被拋售。