價值超過 140 億美元的比特幣選擇權今天到期，這是史上最大的事件之一：這是加密貨幣投資者應該期待的

比特幣（CRYPTO：BTC）期權歷史上週五到期。發生了什麼：根據領先的加密貨幣衍生品交易所 Deribit 的數據，比特幣選擇權

Bitcoin (CRYPTO: BTC) options contracts, with nearly $14.38 billion in notional value expired at 3:00 a.m. ET on Friday, according to leading cryptocurrency derivatives exchange Deribit.

根據領先的加密貨幣衍生品交易所 Deribit 的數據，名義價值近 143.8 億美元的比特幣 (CRYPTO: BTC) 選擇權合約於美國東部時間週五凌晨 3:00 到期。

The derivatives exchange also noted that the price of Bitcoin at the time of the options expiry stood at $41,160.

該衍生性商品交易所還指出，選擇權到期時比特幣的價格為 41,160 美元。

Bitcoin options contracts expiring on Deribit are a key event in the cryptocurrency markets, and the large size of the options expiring on Friday is a testament to the growing institutional interest in Bitcoin.

Deribit 上的比特幣選擇權合約到期是加密貨幣市場的關鍵事件，週五到期的選擇權合約規模之大證明了機構對比特幣的興趣不斷增長。

Options contracts give the buyer the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) a specified amount of an underlying asset at a set price on or before a particular date.

選擇權合約賦予買方權利，但沒有義務，在指定日期或之前以設定價格購買（如果是看漲期權）或出售（如果是看跌期權）指定數量的標的資產。

In Deribit's case, the options contracts are European-style options, which can only be exercised on the last trading day.

就 Deribit 而言，選擇權合約是歐式選擇權，只能在最後一個交易日行使。

A ‘Max Pain' Theory

「最大痛苦」理論

Speaking to Benzinga earlier, Deribit CEO Luuk Strijers had flagged $84,000 as the "max pain" level for Bitcoin, hinting at Bitcoin’s potential drop to this level.

Deribit 執行長 Luuk Strijers 早些時候在接受 Benzinga 採訪時表示，84,000 美元是比特幣的「最大痛苦」水平，暗示比特幣有可能跌至這一水平。

"For Bitcoin, the max pain is at $84,000. This means that the majority of traders will be losing money on their options contracts if the price of Bitcoin drops to this level," Strijers explained.

「對於比特幣來說，最大的痛苦是 84,000 美元。這意味著，如果比特幣的價格跌至這個水平，大多數交易者的選擇合約都會虧損，」Strijers 解釋道。

"However, it is important to note that this is just one theory and the actual price movement of Bitcoin may vary significantly."

“但是，值得注意的是，這只是一種理論，比特幣的實際價格走勢可能會有很大差異。”

What To Expect After Options Expiry

期權到期後會發生什麼

Following the options expiry, the market could become choppy, according to Sean McNulty, director of trading at liquidity provider Arbelos Markets, who was quoted by Bloomberg.

彭博社引述流動性提供者 Arbelos Markets 交易總監 Sean McNulty 的話說，選擇權到期後，市場可能會變得波動。

"We could see some choppiness in the market after the options expiry, especially if there are large movements in either direction," McNulty said.

麥克納爾蒂表示：“期權到期後，我們可能會看到市場出現一些波動，特別是如果兩個方向都出現大幅波動的話。”

"However, the overall trend in the market is still bullish, and we expect to see continued buying pressure from institutional investors."

“不過，市場整體趨勢仍然看漲，我們預計機構投資者的買盤壓力將會持續下去。”

See More: Best Cryptocurrency Apps

查看更多：最佳加密貨幣應用程式