$12.37 Billion Bitcoin Options Expiry: Why $78,000 Max Pain Is No Forecast
About $12.37 billion of Bitcoin options across Deribit, OKX and Bybit expires Friday, October 30, at 08:00 UTC—4:00 a.m. Eastern—according to the Swiftedge snapshot supplied for this analysis. That is outstanding contract exposure, not an incoming Bitcoin purchase order, and the much-discussed $78,000–$79,000 max-pain zone is a description of positioning, not a forecast. What the expiry number measures The Swiftedge snapshot, dated October 29 at 01:05 UTC, counts 152,888 BTC of open interest, worth approximately $12.37 billion, or 34% of all open BTC options across the covered venues. Those are dated observations; live trackers can change as prices and positions move. ...