{"id":243,"date":"2025-07-11T16:03:30","date_gmt":"2025-07-11T16:03:30","guid":{"rendered":"https:\/\/bitcoscript.com\/article\/4-3b-bitcoin-options-expiry-flashes-caution-amid-ath-bhutan-offloads-another-100-btc\/"},"modified":"2025-07-11T16:03:30","modified_gmt":"2025-07-11T16:03:30","slug":"4-3b-bitcoin-options-expiry-flashes-caution-amid-ath-bhutan-offloads-another-100-btc","status":"publish","type":"post","link":"https:\/\/bitcoscript.com\/article\/4-3b-bitcoin-options-expiry-flashes-caution-amid-ath-bhutan-offloads-another-100-btc\/","title":{"rendered":"$4.3B Bitcoin Options Expiry Flashes Caution Amid ATH, Bhutan Offloads Another 100 BTC"},"content":{"rendered":"

As Bitcoin
\n
\n BTC<\/span>
\n $115 951<\/span>
\n <\/span>
\n
\n\t\t\t
\n 24h volatility:<\/span>
\n 4.2%<\/span>
\n <\/span>
\n
\n Market cap:<\/span>
\n $2.31 T<\/span>
\n <\/span>
\n <\/span>
\n
\n Vol. 24h:<\/span>
\n $56.12 B<\/span>
\n <\/span>
\n <\/span>
\n <\/a>
\n\t reached a new all-time high of $118,000 earlier today, the $4.3 billion BTC options expiry signals a cautious bearish sentiment ahead.<\/p>\n

While the spot market shows strength, the options market remains wary with subdued activity from institutional investors.<\/p>\n

Meanwhile, the Royal Government of Bhutan continued its sell-off, offloading another 100 BTC today.<\/p>\n

Bitcoin Options Put-Call Ratio Hints at Bearish Sentiment<\/h2>\n

With BTC price approaching $120K, Bitcoin options expiring today have a notional value of $4.3 billion and total open interest of 36,970 contracts.<\/p>\n

The maximum pain point, or the price level where option holders face the most losses, is currently at $108,000, according to Deribit data<\/a>.<\/p>\n

A key observation is the continued bearish bias in the options market. Similar to last week, today\u2019s contracts show a Put-to-Call Ratio (PCR) above 1, standing at 1.06. A PCR above 1 indicates a higher volume of put (sell) options compared to call (buy) options, reflecting increased bearish sentiment among traders.<\/p>\n

\"Bitcoin<\/p>\n

Bitcoin Options Expiry – Source: Deribit<\/p>\n<\/div>\n

Derivatives analytics platform Greeks.Live highlights significant options activity and cautious market sentiment, noting muted institutional involvement despite notable high-leverage positions.<\/p>\n

\n

July 11 Options Data]37,000 BTC options expiring with a Put Call Ratio of 1.05, a Maxpain point of $108,000 and a notional value of $4.3 billion.
240,000 ETH options expiring with a Put Call Ratio of 1.11, Maxpain point of $2,600 and notional value of $710 million.
The smell of\u2026 pic.twitter.com\/s5bD7i3iNq<\/a><\/p>\n

— Greeks.live (@GreeksLive) July 11, 2025<\/a><\/p>\n<\/blockquote>\n

In a recent update, the analytics platform noted that some traders are discussing 500x leverage positions, calling it suicidal in current market conditions.<\/p>\n

Despite the elevated risks, new positions continue to be opened, with discussions of so-called \u201c100% signal\u201d trading strategies reflecting a combination of high conviction and high risk. Such aggressive leverage magnifies both potential gains and losses.<\/p>\n

Bhutan Government Offloads Another 100 BTC<\/h2>\n

The Royal Government of Bhutan sees this Bitcoin price rally as a profit-booking opportunity.<\/p>\n

Earlier today, the government transferred an additional 100.215 BTC, approximately $11.83 million, to Binance, according to blockchain analytics firm Arkham Intelligence. This comes just a day after the Bhutan Government purchased 213 BTC.<\/p>\n

Over the past year, Bhutan has offloaded a total of 2,262 BTC, valued at around $200.46 million, across six separate batches, with an average selling price of $88,612 per Bitcoin.<\/p>\n

Despite these sales, the country still holds a significant reserve of 11,611 BTC, currently valued at approximately $1.37 billion.<\/p>\n

\n

The Royal Government of #Bhutan<\/a> deposited another 100.215 $BTC<\/a>($11.83M) to #Binance<\/a> 20 minutes ago.<\/p>\n

In the past year, #Bhutan<\/a> has sold 2,262 $BTC<\/a> ($200.46M) across 6 batches at an average price of $88,612 and still holds 11,611 $BTC<\/a>($1.37B).<\/p>\n

The #German<\/a> government sold all\u2026 pic.twitter.com\/3xq94RXMWD<\/a><\/p>\n

— Lookonchain (@lookonchain) July 11, 2025<\/a><\/p>\n<\/blockquote>\n

next<\/p>\n

The post $4.3B Bitcoin Options Expiry Flashes Caution Amid ATH, Bhutan Offloads Another 100 BTC appeared first on Coinspeaker.<\/p>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin BTC $115 951 24h volatility: 4.2% Market cap: $2.31 T Vol. 24h: $56.12 B reached a new all-time high of $118,000 earlier today, the $4.3 billion BTC options expiry signals a cautious bearish sentiment ahead. While the spot market shows strength, the options market remains wary with subdued activity from institutional investors. Meanwhile,…<\/p>\n","protected":false},"author":1,"featured_media":244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[97,23,24,53,98,7,8],"class_list":["post-243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-news","tag-bhutan-government","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc-price","tag-cryptocurrency-news","tag-news"],"_links":{"self":[{"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/posts\/243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/comments?post=243"}],"version-history":[{"count":0,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/posts\/243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/media\/244"}],"wp:attachment":[{"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/media?parent=243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/categories?post=243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoscript.com\/article\/wp-json\/wp\/v2\/tags?post=243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}