Bitcoin & Ethereum April Fools' Expiry: Can the Bulls Triumph?

The crypto market is bracing itself for a significant event, not quite an April Fools' joke but rather a real market mover: the expiry of billions in Bitcoin and Ethereum options. Traders are keenly watching to see if the tides will turn in the bulls' favor after this pivotal moment.

Specifically, on April 25 at UTC, a total of $8B in crypto options will expire. The options are split to $7.2B for BTC, and just 800M for ETH. The monthly bet on the two leading assets shows significant influence on market sentiment.

This substantial expiry event echoes previous instances of large options expirations, such as the December 6 event where $2.3 billion worth of Bitcoin options expired. These expiries often signal heightened short-term market volatility and potential price shifts. Indeed, over $8 billion in BTC and ETH options expire today, reinforcing the potential for significant price movement.

The crypto derivatives market opened 2025 with significant activity, registering a substantial $2.6 billion in expired options contracts for Bitcoin and Ethereum, highlighting the ongoing importance of these expiry dates.

With BTC's $7.24 billion options showcasing a 0.73 put/call ratio, the balance of power between buyers and sellers hangs in the balance. Will the bulls seize the opportunity after the expiry, or will the bears maintain their grip? Keep an eye on the market for potential surges or dips in the coming days.