The substantial expiration of Bitcoin and Ether options, which amounts to a staggering $14.6 billion, reveals a prevalent bias among investors leaning toward securing protection for their Bitcoin holdings. This situation underscores the growing interest in hedging strategies as traders navigate the volatile cryptocurrency market, indicating a heightened concern for potential price fluctuations in Bitcoin, while also reflecting a significant engagement with Ether options. The large figure associated with the expiry highlights the critical role these derivatives play in shaping market dynamics and investor sentiment in the ever-evolving landscape of digital assets.
source: https://www.coindesk.com/markets/2025/08/26/massive-usd14-6b-btc-and-eth-options-expiry-shows-bias-for-bitcoin-protection