Every Zipp story tagged #Deribit, newest first.
The expiry's key question is whether dealer hedging pins Bitcoin near $75K-$80K or reinforces a break. The 0.83 put-to-call ratio is an inventory measure, not a standalone directional signal.
Call-heavy positioning points to a bullish bias, while clustered strikes make Friday's response a test of gamma hedging rather than a simple directional bet.
The trade is a short-term volatility wager: XRP must move far enough from $1.16 to cover the $62,000 premium by Aug. 28.
The $70K strike sits above spot near $64.8K, putting the September 2026 expiry at the center of the next CPI-linked range test.
Deribit just settled $9.6B in monthly options, leaving Bitcoin's next downside magnet at the $60,000 strike, less than 5% below the weekend's open, with ETF flows sidelined until Monday.
Two weekly expiries through Deribit knocked out the dealer-hedging excuse for Bitcoin's flat tape. The remaining big bet needs 9% upside by July 31, two days after a Fed meeting markets can't call.
Calls at those two strikes outnumber puts by 10-to-1, and Laevitas ties roughly half the notional to a single bull call spread tied to CLARITY Act optimism.
The flow lands on Deribit just two days before the Fed's July 29 decision, and its size plus strike precision signal institutional conviction that a macro tailwind breaks BTC out of its recent…
The split tells the story: retail-style spot flow cooled across the board while derivatives venues absorbed the risk migration, with Deribit's 26.6% jump leading the move.
Elevated put skew across all tenors signals persistent downside hedging even as spot ETFs just ended a 10-day outflow streak, a split tape that argues against calling the rebound a confirmed bottom.
The structural cost is that options desks are still bidding for downside even as implied volatility keeps printing muted; that divergence between hedges and vol is what historically resolved…
Deribit is the largest crypto derivatives venue by options volume, and a six-figure USDC prize pool with a referral track signals it is using a SignalPlus-built funnel to widen the active-trader base…
BTC is off more than 50% from its October high, $200M in leveraged longs have already been liquidated, and a sub-$60K slide puts a $712M options magnet at $50K directly in price-discovery territory.
The max-pain magnet at $72K didn't pull: ~80% of $10.6B in notional expired worthless, confirming spot flow, not the options book, is driving BTC price into the next leg.
Roughly $10B in BTC options notional expires on Deribit Friday, with most of the pain concentrated on the bullish side as spot continues to bleed.
The popular theory that spot gravitates to the strike where options buyers lose the most is failing in real time, with BTC stuck near $61,700 against a $72,000 max pain target on Friday's record…
The Deribit purchase vaulted Coinbase into the dominant global derivatives seat overnight, and management is already telling investors the pipeline is open for the next one.
The macro print sets the impulse, the quarterly Deribit expiry decides whether it gets pinned or amplified, and roughly 80% of open interest is already out of the money after June's slide.
Deribit's own CCO calls vol cheap but not at fire-sale levels, with the June 26 book loaded net-long in-the-money puts and out-of-the-money calls heading into a quarter-end reset.
With $10B of Bitcoin options set to expire June 26 and 80% out of the money, derivatives are now setting spot prices — and the same shift is reshaping equities, prediction markets, and tokenized…
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