Bitcoin, Ether, XRP gain as $7.5B options expiry passes with ceasefire boost

Bitcoin, Ether and XRP gained as $7.5 billion in options expired on May 29, with traders buying the dip after a recent downturn across crypto markets.

The recovery followed the extension of the US-Iran ceasefire for another 60 days, a development that also pushed the S&P 500 and Nasdaq to record closing highs on May 28, according to Reuters. The agreement, formalized through a memorandum of understanding, lowered geopolitical risk premiums across asset classes, with the dollar weakening and oil prices declining.

The $7.5 billion expiration across Bitcoin, Ether and XRP options represents one of the largest monthly settlement events this year. Such expirations often induce short-term volatility as traders roll or close positions, and the positive resolution — with prices moving higher — suggests the market absorbed the event without disruption.

The combination of a cleared options event and improving macro conditions could support a sustained short-term recovery. The US-Iran ceasefire removes a source of uncertainty that had weighed on risk assets for months, while the options expiry resets the positioning landscape heading into June.

Traders who accumulated positions during the recent downturn now watch for confirmation that the recovery has momentum. The next test for Bitcoin will be whether it can establish a foothold above recent resistance levels, with the macro backdrop providing a tailwind as long as the ceasefire holds. For Ether and XRP, the improved risk appetite translated into broad-based buying pressure, with both tokens posting gains alongside Bitcoin.

This article is for informational purposes only and does not constitute investment advice.