$13 billion BTC options expire on Friday. Three steps to understand the impact on you

On June 26, $13 billion worth of BTC options expire on Deribit, with the current open positions clearly leaning bearish.
What does this mean for regular holders? Three steps to understand:
Step 1: Identify the main pain point — most call options are concentrated above $68K, while the current $64K is far below, indicating a large number of long positions are underwater.
Step 2: Understand the post-expiry effect — expiration itself doesn't lock in future trends, but it can suppress bullish confidence.
Step 3: Check your position — if you hold leveraged long positions, volatility may increase before and after expiry. Consider reducing your position early or setting stop-loss orders.
Key data: BTC has fallen about 14% in June, and the Fear & Greed Index remains in the fear zone at 22. The net bearish advantage is between $68k and $3.4 billion. Conclusion: Don't bet on the direction; manage your positions.
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