Key facts
- Approximately $11 billion in Bitcoin options are expiring this week.
- The options expiry is scheduled for Friday, October 30, at 08:00 UTC on Deribit.
- This expiry represents 34.6% of Deribit's total open interest in Bitcoin contracts.
- Economists expect US third-quarter GDP to grow 1.7%, a slowdown from the previous quarter.
- Personal consumption expenditures inflation is projected to rise to 3.7% in September.
- The Federal Reserve is widely expected to hold interest rates steady at its October meeting.
Bitcoin traders are anticipating increased price volatility as options contracts valued at approximately $11.1 billion are set to expire on Friday, October 30. This event occurs during a crucial week for financial markets, which includes a Federal Reserve meeting and the release of key US economic data. Economists anticipate a slowdown in US economic growth for the third quarter, coupled with an acceleration in inflation.
The Federal Reserve is expected to maintain its benchmark interest rate at its current level during its meeting on October 27-28, though a December rate hike is anticipated by many economists. This monetary policy backdrop, combined with the options expiry, could lead to significant price movements in Bitcoin. Data indicates a concentration of open interest around the $95,000 strike price, while the 'max pain' level is estimated at $78,000.