The bitcoin and ethereum options on Deribit, one of the largest crypto derivatives exchange, expired earlier today.
This month saw the largest open interest in a year, open interest being the total amount of contracts in action, the exchange said.
$1.7 billion worth of contracts expired, with a new month so beginning following a $34,000 max pain price for bitcoin options.
CME’s bitcoin futures have also expired amid a slight dip just before 4PM London time.
A dip potentially caused by rollovers where old contracts are sold for new ones to be bought this June.
Some down pressure therefore may have been taken out, with buy pressure potentially to follow starting Monday.
That’s usually the case in any event, but after nine weeks of red, what happens with either futures or options this month, remains to be seen.