$9.4B 加密货币期权即将到期，表明市场情绪

Deribit 上约 94 亿美元的加密货币期权（主要是价值 63.5 亿美元的比特币合约）将于本周五到期。比特币期权的看跌期权与看涨期权比率高达 0.68，表明人们更加谨慎，而以太坊期权的比率较低，为 0.49，表明看涨情绪。值得注意的是，执行价格为 100,000 美元的看涨期权拥有最大的未平仓合约，表明比特币到年底将飙升的预期，与分析师预测的到 2024 年达到 150,000 美元的预测一致。

Deribit Options Expiry: $9.4 Billion Worth of Cryptocurrency Options Poised for Settlement

Deribit 期权到期：价值 94 亿美元的加密货币期权即将结算

The derivatives market is poised for a significant event this Friday, as approximately $9.4 billion worth of cryptocurrency options are set to expire on the Deribit derivatives exchange. This sizeable expiry volume underscores the growing significance of derivatives trading in the cryptocurrency ecosystem and provides insights into market sentiment and expectations.

衍生品市场将于本周五发生重大事件，价值约 94 亿美元的加密货币期权将在 Deribit 衍生品交易所到期。如此大的到期量凸显了衍生品交易在加密货币生态系统中日益增长的重要性，并提供了对市场情绪和预期的洞察。

Bitcoin Dominates Options Expiry

比特币主导期权到期

Bitcoin options account for the lion's share of the expiring contracts, with a combined notional value of $6.35 billion. As the flagship cryptocurrency, Bitcoin attracts significant interest from traders who use options to speculate on its future price movements. The elevated put-call ratio of 0.68 for Bitcoin options indicates a slightly cautious stance among traders, with a greater number of puts being purchased relative to calls. This suggests that some market participants anticipate potential downside risks for Bitcoin in the near term.

比特币期权占到期合约的最大份额，名义价值合计达 63.5 亿美元。作为旗舰加密货币，比特币吸引了交易者的极大兴趣，他们使用期权来推测其未来的价格走势。比特币期权的看跌期权与看涨期权比率高达 0.68，这表明交易者的立场略显谨慎，买入的看跌期权数量多于看涨期权。这表明一些市场参与者预计比特币在短期内存在潜在的下行风险。

Ethereum Options Show Bullishness

以太坊期权显示看涨

Ethereum options, with a notional value of $3.08 billion, are also set to expire this Friday. Unlike Bitcoin, the put-call ratio for Ethereum options stands at a lower 0.49, indicating a more optimistic outlook. The higher proportion of call options suggests that traders anticipate positive price action for Ethereum in the coming weeks.

名义价值 30.8 亿美元的以太坊期权也将于本周五到期。与比特币不同，以太坊期权的看跌期权与看涨期权比率较低，为 0.49，表明前景更为乐观。看涨期权比例较高表明交易者预计以太坊在未来几周内将出现积极的价格走势。

Bullish Bets on Bitcoin's End-of-Year Performance

看好比特币年底表现

One notable feature of the Bitcoin options market is the concentration of open interest at the $100,000 strike price. This suggests that a significant number of traders are betting on Bitcoin to surpass this milestone by the end of the year. The post-halving rally, which typically follows Bitcoin's halving event, is often cited as a potential catalyst for such bullish expectations.

比特币期权市场的一个显着特征是未平仓合约集中在 10 万美元的执行价格。这表明大量交易者押注比特币将在今年年底超越这一里程碑。减半后的反弹通常发生在比特币减半事件之后，通常被认为是这种看涨预期的潜在催化剂。

Analysts Predict Optimistic Future for Bitcoin and Ethereum

分析师预测比特币和以太坊的乐观未来

The bullish sentiment reflected in the options market is aligned with the recent analyst note from Standard Chartered, which forecast a target price of $150,000 for Bitcoin and $8,000 for Ethereum by the end of 2024. These projections underscore the growing confidence among institutional investors in the long-term growth potential of cryptocurrencies.

期权市场反映出的看涨情绪与渣打银行最近的分析师报告一致，该报告预测到 2024 年底，比特币的目标价格为 15 万美元，以太坊的目标价格为 8,000 美元。这些预测强调了机构投资者对长期市场的信心不断增强。 - 加密货币的长期增长潜力。

Options as Derivatives for Speculation

期权作为投机衍生品

Options, as derivative contracts, provide traders with flexibility and leverage in speculating on the price trajectory of underlying assets. Call options confer the right to buy the asset at a specified price, while put options confer the right to sell. The purchase of put options typically implies a bearish outlook, while call purchases indicate bullish expectations.

期权作为衍生品合约，为交易者推测标的资产的价格轨迹提供了灵活性和杠杆作用。看涨期权赋予以指定价格购买资产的权利，而看跌期权则赋予出售资产的权利。购买看跌期权通常意味着看跌前景，而购买看涨期权则表明看涨预期。

Conclusion

结论

The upcoming expiry of $9.4 billion worth of cryptocurrency options on Deribit offers valuable insights into market sentiment and expectations. The elevated put-call ratio for Bitcoin suggests caution, while the bullish positioning of Ethereum options aligns with the broader optimism expressed by analysts. As the cryptocurrency market evolves, it is evident that derivatives trading is playing an increasingly prominent role in shaping market dynamics and providing opportunities for speculation and risk management.

Deribit 上价值 94 亿美元的加密货币期权即将到期，为了解市场情绪和预期提供了宝贵的见解。比特币看涨期权比率的上升表明了谨慎态度，而以太坊期权的看涨定位与分析师表达的更广泛的乐观情绪一致。随着加密货币市场的发展，衍生品交易在塑造市场动态以及为投机和风险管理提供机会方面发挥着越来越重要的作用。