Hark! A most curious spectacle unfolds before us-a trifling matter, they say, of some 31,000 contracts concerning this digital ‘Bitcoin,’ worth a mere 2.7 billion units of currency! A pittance, I assure you, less than the allowance of a moderately successful Duke. And yet, these busybodies claim it might… not affect the markets, which are already in a most lamentable decline. 🧐
’Tis a tale of woe, truly! The Chinese, ever meddling, have once again cast a shadow upon these miners, whilst our American cousins dither with their regulations. And the Japanese, those masters of subtlety, threaten to… raise rates! Heavens preserve us. All compounding to stoke the fears of investors and send them fleeing like rats from a sinking ship. 🚢
Of Bitcoin Options and Their Expiration
Observe, if you will, a ratio of calls to puts – a rather tedious calculation – standing at 0.8. Meaning, more hopefuls envisioning a rise than those anticipating a fall. Coinglass, a purveyor of such arcane knowledge, dictates the “max pain” to be around 88,000. A most distressing figure, I’m sure, for those of a sensitive disposition.
The “open interest,” a phrase which sounds dreadfully suspicious, is largest at 100,000 units, accounting for 2.3 billion of said currency on Deribit. Should the price stumble upon 85,000, then truly fortunes shall be lost! The total sum of all such wagers, a staggering 52.5 billion! One begins to suspect a conspiracy. 😈
“The open interest doth cluster around 88,000,” proclaims Deribit, “with a slight preference for those predicting decline. Thus, a contained expiration is predicted, unless the price should stray beyond its current bounds.”
An Urgent Summons!
At the hour of eight tomorrow, a sum of 3.18 billion in crypto contracts shall expire on Deribit. Bitcoin alone accounts for 2.72 billion, with a call-to-put ratio of 0.81, and a “max pain” of 88,000.
As Deribit doth declare, the open interest doth center around 88,000, with a slight leaning towards unwelcome developments.
– Deribit (@DeribitOfficial) December 18, 2025
And lest we forget, the esteemed Ethereum, with 155,000 contracts expiring, amounting to a humble 460 million. A “max pain” of 3,100, and a call-to-put ratio of 1.1. Total Ethereum wagers across all exchanges amount to 11 billion…a sum, though considerable, is also declining.
“Ethereum’s fortunes,” Deribit reports, “are more widely distributed, with a glimmer of hope found above 3,400. Should volatility return, larger shifts may yet occur.” One can only hope! 🙏
Thus, Friday’s total expiry shall amount to approximately 3.2 billion. A sum to send some into fits, and others to utter indifference.
Regarding the Current State of the Market
Our markets have fallen once more, shedding their luster and diminishing below 3 trillion. A most unsettling sight!
Bitcoin, that fickle beast, underwent another manufactured ascent followed by a precipitous descent after the publication of the CPI. It tumbled to 84,500 before recovering to 85,000. Structurally weak, they say! Further losses are anticipated. Truly, a most unfortunate state of affairs. 😒
Ether too has darkened, slipping below 2,800! And the lesser “altcoins”-XRP, Solana, Cardano-fare even worse, each losing more than 4% on this dismal day. A cautionary tale, I assure you, for any foolish enough to dabble in such volatile pursuits.
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2025-12-19 09:41