Core Insights - Deribit is set to experience the expiration of 154,000 BTC options this Friday at 16:00 (UTC+8), with a nominal value of $17.38 billion and a maximum pain price of $110,000, indicating a put/call ratio of 0.77 [1] - Additionally, ETH options have a nominal value of $5.5 billion, a maximum pain price of $3,700, and a put/call ratio of 0.76 [1] Summary by Category - **BTC Options** - Expiration of 154,000 BTC options on Deribit [1] - Nominal value of $17.38 billion [1] - Maximum pain price set at $110,000 [1] - Put/call ratio of 0.77 [1] - **ETH Options** - Nominal value of ETH options at $5.5 billion [1] - Maximum pain price at $3,700 [1] - Put/call ratio of 0.76 [1]

Market Trends - $BTC options skew indicates a put bias across all time frames [1] - Traders are actively seeking downside protection [1] Expert Opinion - @DeribitOfficial's Luuk Strijers attributes the put bias to the dovish Fed rate cut [1]

Core Insights - Bitcoin (BTC) reached a peak of $117,300 before settling at $116,400, influenced by anticipation surrounding the Federal Reserve's interest-rate decision [1] - Bitcoin dominance has decreased to 57%, the lowest since January, indicating a shift towards altcoins during a period of low volatility [2] Market Dynamics - The filling of the CME gap suggests potential consolidation for Bitcoin away from critical support levels at $110,000, which may lead to increased capital flow into altcoins [2] - BTC futures open interest has risen to $32 billion, indicating heightened market activity, while the narrowing three-month annualized basis to 6-7% suggests weakening bullish conviction [4] - The options market presents mixed signals, with short-term bearish sentiment indicated by a flat or slightly negative skew for shorter-term options, while a higher volume of calls than puts suggests some traders are still positioning for price increases [4] Altcoin Outlook - The average crypto token RSI is at 45.47, indicating that altcoins are nearing "oversold" territory, which may lead to upward price movements [5] - Historical data shows Bitcoin dominance fell to 33% in 2017 and 40% in 2021, suggesting that altcoins have further room for growth [5] - Future Bitcoin performance, particularly if it approaches record highs of $124,000, will be crucial in determining capital rotation back to Bitcoin from altcoins [5]

Deribit has added USDC-settled BTC and ETH options, which work much like traditional market options except settlement is in USDC instead of USD. Users keeping funds in USDC can also earn monthly USDC rewards with an annual yield of around 4%. Currently, only the Ethereum ERC-20 version of USDC is supported.https://t.co/YC509wmnGp ...

Product & Service Launches - Coinbase launched DEX trading, providing access to millions of assets on Base, initially rolling out in the U S (excluding NY) [1] - Coinbase launched Embedded Wallets, enabling builders to add custom wallets with onboarding, onramps, trading, security, and 4 1% USDC rewards [2] - Coinbase started shipping Coinbase One Cards to the waitlist [4] Partnerships & Integrations - Coinbase became a crypto infrastructure partner of the Department of Commerce's initiative to post real GDP data on the blockchain [1] - Coinbase partnered with SquadsProtocol to make USDC the default stablecoin across their product suite on Solana [3] - Coinbase closed the deal with Deribit, aiming to build a global crypto platform [4] Business Development & Finance - Shan Aggarwal became Coinbase's first Chief Business Officer [3] - Coinbase launched a second bootstrap fund to deepen stablecoin liquidity in DeFi [3] - Bullish made history with the first IPO to accept proceeds in stablecoins, with Coinbase as the exclusive custodian for USDC & EURC [3] - USDC hit a $70 billion market cap [4] Community & Events - Coinbase hosted Code NYC, a hackathon in Brooklyn [3] - Base turned 2 years old [4]

Group 1 - Bitcoin (BTC) has been trading within a narrow range of 2.3% since a sharp decline from $112,500, with a lack of momentum attributed to the U.S. Labor Day holiday and regulatory market closures [2] - The confidence in the $108,000 support level for Bitcoin is diminishing, as indicated by the derivatives market, with a potential liquidation risk of $390 million in leveraged long positions if the price drops below $107,000 [4][9] - The annualized premium for Bitcoin's monthly futures is currently at 7%, remaining stable within a neutral range of 5% to 10%, with previous bullish signals noted on August 24 [5] Group 2 - A significant Bitcoin whale has transferred $4 billion worth of Bitcoin to Ethereum (ETH), highlighting a "rotation" phenomenon as altcoins appear to benefit from the accumulation by enterprises [5] - The Deribit skew indicator shows a 7% premium for put options compared to call options, indicating a bearish sentiment among whales and market makers regarding the $108,000 support level [7] - A net outflow of $127 million from U.S. spot Bitcoin exchange-traded funds (ETFs) signals unease among holders, reflecting broader macroeconomic uncertainties or Bitcoin-specific weaknesses [7]

🗞️ Will trump be able to bend the Federal Reserve to his will? Polymarket predicts unlikely.🗞️ Over $14.6B of Bitcoin and Ether options set to expire Friday on Deribit.🗞️ BitPanda says public listing in NY more likely due to U.S. govt support for digital assets.@SamEwen hosts "CoinDesk Daily."Thank you @MidnightNtwrk 👋 for being a sponsor of the CoinDesk media network. ...

The impending multi-billion dollar crypto options expiry on @DeribitOfficial shows a bias for $BTC puts. By @godbole17.https://t.co/W4yPqO47TK ...

Crypto infrastructure provider SignalPlus and derivatives exchange Deribit announced the conclusion of the 2025 Summer Trading Competition. First launched in November 2023 with around $1 billion in trading volume, this year’s event scaled up significantly, surpassing $10 billion in total volume and setting a new record.https://t.co/xmKcISEeQA ...

RT Deribit (@DeribitOfficial)BTC’s 6-month outlook turns bearish 📉The 180-day call-put skew on Deribit just hit -0.42, its most negative reading since June 2023. That means traders are paying up for downside protection, flipping long-term sentiment bearish even after only an 8% pullback from ATHs.BTC has also slipped below the Guppy moving average bands, which is a signal that bullish momentum is fading and that the downside risk is building.Full article by @CoinDesk ⤵️https://t.co/KIzeboComt ...