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 亿美元的 BTC 期权将于 4 月 26 日到期，这表明潜在的价格波动可能导致比特币跌至 61,000 美元大关。交易员预计比特币和加密货币市场将在加密货币市场到期后复苏，这可能会阻止下行对冲获利了结。

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.

期权到期后比特币价格回升？超过 9.6 万个名义价值 62 亿美元的比特币期权将于 4 月 26 日在 Deribit 到期。看跌期权与看涨期权比率为 0.68，表明随着每月到期日的临近，看跌期权最近有所增加。最大痛点是 61,000 美元，低于当前价格。市场预计会出现巨大波动，预计到期日价格将会回调。

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，名义价值 31 亿美元的 99 万份以太坊期权即将到期，看跌期权与看涨期权比率为 0.51。最大痛点是 3,100 美元，当前 ETH 价格高于最大痛点，也高于当前价格 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，随着加密货币期权到期日临近，比特币波动率指数（DVOL）急剧上升，实际波动率大幅上升。

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.

期权专家 Greekslive 表示，本周加密货币市场成交量较低，推动比特币和以太坊价格接近支撑位。市场的疲软导致所有主要术语的隐含波动率 (IV) 大幅下降，自减半以来 Dvol 下跌了 15%。市场缺乏波动性导致大量期权被抛售。