The crypto derivatives market opened 2025 with significant activity, registering a substantial $2.6 billion in expired options contracts for Bitcoin and Ethereum.

Emphatically, today’s expiration figure marks the year’s first weekly options delivery. It also indicates increasing market engagement as global participants return from the holiday season.

Key Highlights from the Expiry in Bitcoin Contracts

The Bitcoin options market saw 20K BTC options expire, with a Put/Call Ratio 0.69. These expired contracts held a value of $1.93 billion.

In the Ethereum market, 206K ETH options evaporated, with a bear-to-bull ratio of 0.81 and a notional value of $710 million. Collectively, $2.64 billion worth of Bitcoin and Ethereum options expired today.

Notably, Bitcoin’s Put/Call ratio of 0.69 indicates a more bullish sentiment, with more call options than puts. In contrast, Ethereum’s options show a slightly more bearish outlook, with a ratio of 0.81.

These figures highlight strong institutional and retail interest in crypto derivatives as the year begins, as the spot market gradually becomes bullish.

Bitcoin has stabilized around $96,500, showing a barely noticeable 0.2% increase over the past 24 hours. This follows yesterday’s surge to nearly $98K after briefly dipping below $90K just four days ago.

Meanwhile, Ethereum has largely mirrored Bitcoin’s movements, trading at $3,482 with a 0.47% gain over the past day. Earlier today, ETH teased the psychological $3,500 level before briefly retracing.

Mixed Sentiment and Potential Catalysts 

Despite the impressive numbers, the week’s theme is one of correction, with no sustained trends or hotspots emerging yet, according to a commentary from Greeks.live.

The volatility in the U.S. stock market and the Federal Reserve’s anticipated decision to maintain interest rates are tempering short-term optimism. This cautious sentiment aligns with the ongoing sentiment observed in the crypto market.

However, optimism persists in the market. Donald Trump’s upcoming inauguration as U.S. President continues to spark expectations of favorable policy shifts that could positively impact cryptocurrencies.

Moreover, market participants are looking forward to deeper integration between traditional finance and the crypto industry, with major corporations and governments holding Bitcoin reserves, potentially acting as catalysts for further growth.