Crypto markets are bracing for a historic year-end event today, December 26, with more than $27 billion in Bitcoin and Ethereum options expiring on Deribit. This represents over half of the derivatives exchange’s total open interest.
The colossal “Boxing Day” expiry could mark one of the largest structural resets in crypto history.
Today’s options expiry is significantly higher than those witnessed last week, given it is the last Friday of the month and the year. More precisely, today’s expiring options are for the month and for the quarter (Q4 2025).
The numbers are staggering, with Bitcoi