价值 97.4 亿美元的比特币期权合约即将结算

今天的比特币期权到期事件是今年规模最大的一次，价值约 97.4 亿美元的合约到期。看跌/看涨期权比率为0.85，表明对多头合约略有偏好。执行价格为 65,000 美元和 70,000 美元时有大量未平仓合约，多头主导市场，未平仓合约价格较高，如 75,000 美元和 100,000 美元。

Bitcoin Options Expiration Event: $9.74 Billion Worth of Contracts Set to Settle

比特币期权到期事件：价值 97.4 亿美元的合约即将结算

March 29th marks a significant event in the Bitcoin market, as approximately 135,250 Bitcoin (BTC) options contracts, with a notional value of a staggering $9.74 billion, are set to expire. This constitutes the largest options expiration event witnessed thus far in 2024, according to data from Deribit.

3 月 29 日是比特币市场的一个重大事件，大约 135,250 个比特币 (BTC) 期权合约即将到期，名义价值高达 97.4 亿美元。根据 Deribit 的数据，这是 2024 年迄今为止最大规模的期权到期事件。

Put/Call Ratio Indicates Bullish Sentiment

看跌/看涨比率表明看涨情绪

The put/call ratio for today's sizable batch of options stands at 0.85, implying that there are marginally more long (i.e., bullish) contracts being sold than short (i.e., bearish) contracts. Notably, over a billion dollars in open interest (OI) is concentrated at the $65,000 and $70,000 strike prices, with the latter value being closer to current spot prices.

今天大量期权的看跌/看涨比率为 0.85，这意味着卖出的多头（即看涨）合约略多于空头（即看跌）合约。值得注意的是，超过 10 亿美元的未平仓合约 (OI) 集中在 65,000 美元和 70,000 美元的执行价格，后者的值更接近当前现货价格。

Bullish sentiment appears to prevail in the derivatives markets, with nearly a billion dollars in OI accumulating at significantly higher strike prices, including $75,000 and even $100,000. Open interest represents the number or value of contracts that remain outstanding and have not yet been settled.

看涨情绪似乎在衍生品市场盛行，近 10 亿美元的 OI 积累在显着更高的执行价格上，包括 75,000 美元甚至 100,000 美元。未平仓合约代表未平仓且尚未结算的合约数量或价值。

Options Data Reveals Market Dynamics

期权数据揭示市场动态

Crypto derivatives tooling provider Greeks Live has reported on the total value of crypto options expiring today. With a substantial quarterly delivery and roughly $15 billion of crypto options pending settlement, Greeks Live noted that "market participants are ramping up to adjust their positions, with BTC calls remaining the driving force of this movement."

加密货币衍生品工具提供商 Greeks Live 报告了今天到期的加密货币期权的总价值。 Greeks Live 指出，随着季度交付量的大幅增加以及大约 150 亿美元的加密货币期权等待结算，“市场参与者正在加紧调整头寸，而 BTC 的看涨期权仍然是这一运动的驱动力。”

Additionally, the provider highlights that the $70,000 strike price has garnered significant interest, with the call option currently holding the second-largest options contract. Deribit reports its size to be marginally greater than the $65,000 strike price for calls.

此外，该提供商强调，70,000 美元的执行价格引起了人们的极大兴趣，看涨期权目前持有第二大期权合约。 Deribit 报告称，其规模略高于看涨期权的 65,000 美元执行价。

Ethereum Options Contracts Also Expiring

以太坊期权合约也即将到期

In conjunction with the sizeable batch of Bitcoin contracts, approximately 1.58 million Ethereum options contracts are also set to expire on March 29th. These contracts carry a notional value of around $5.67 billion and exhibit a put/call ratio of 0.63, indicating a predominance of calls over puts expiring today.

与大量比特币合约一起，大约 158 万份以太坊期权合约也将于 3 月 29 日到期。这些合约的名义价值约为 56.7 亿美元，看跌/看涨期权比率为 0.63，表明看涨期权占今天到期的看跌期权的主导地位。

Strike prices at $4,000 and $3,000 have attracted substantial OI, with the former boasting the larger notional value of approximately $700 million.

4,000 美元和 3,000 美元的执行价格吸引了大量 OI，其中前者的名义价值更高，约为 7 亿美元。

Market Impact Remains Uncertain

市场影响仍不确定

Historically, spot markets have not been significantly affected by derivatives expiration events. However, given the scale of today's event, some additional volatility is not out of the realm of possibility.

从历史上看，现货市场并未受到衍生品到期事件的重大影响。然而，考虑到今天事件的规模，一些额外的波动并非不可能。

Total capitalization across the cryptocurrency market has experienced a 2% increase on the day, reaching $2.77 trillion during the Asian trading session on Friday morning.

周五上午亚洲交易时段，加密货币市场总市值增长 2%，达到 2.77 万亿美元。

Bitcoin has been oscillating around a resistance level of just over $70,000 for the majority of the past 24 hours, where it currently remains. Ethereum prices have been trading within the $3,500 range for the past 18 hours.

在过去 24 小时的大部分时间里，比特币一直在略高于 70,000 美元的阻力位附近波动，目前仍保持在该水平。过去 18 小时内，以太坊价格一直在 3,500 美元区间内交易。