Markets
$8 Billion Crypto Options Set to Expire Today
Learn how the expiration of $8.12 billion worth of Bitcoin options and crypto options could influence the crypto market. Stay informed of potential price developments.
With $8.12 billion worth of Bitcoin and Ethereum options expiring today, the crypto scene is on high alert for any market movement.
Bitcoin’s share amounts to $4.65 billion spread across 261,390 contracts. Deribit data shows a put/call ratio of 0.6, indicating bullish sentiment among traders.
(GeekLive)
The max issue for these expiring Bitcoin options is $65,000, according to Geek.Live data.
Likewise, Ethereum options are also seeing a significant expiration today, with 2,750,922 contracts set to expire, with a notional value of $3.47 billion.
The put-to-call ratio for ETH also slightly favors calls over puts.
Crypto markets are poised to experience extreme price movements based on this news.
May 31 options data
69,000 BTC options expired with a Put Call Ratio of 0.37, a Maxpain point of $66,000, and a notional value of $4.7 billion.
920,000 ETH options expired with a Put Call ratio of 0.46, a Maxpain point of $3,300, and a notional value of $3.5 billion.
The cryptocurrency market… pic.twitter.com/1yMZymIcYZ– Greeks.live (@GreeksLive) May 31, 2024
Crypto Options: Current Market Sentiment and Volatility
Currently, millions of people in open interest are betting on Bitcoin to reach $70,000, $75,000, $80,000 and even $100,000.
Greeks.live claims that volatility will remain low, creating a good scene for options trading. Expect some price drama from these expirations, but don’t worry too much: Markets usually stabilize the next day.
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In May, the SEC gave the green light to a spot ETH ETF, triggering a 20% rise in ETH prices. However, approval was reserved for only filing 19b-4delaying real action.
After the approval, the market remained neutral. ETH remains below $4,000 and BTC at $70,000. The recent uptrend is now turning into a bearish phase.
(BTCETH)
The bottom line: keep an eye on the market
History shows that any wild movement is usually short-lived. Traders should closely monitor key indicators and remain vigilant.
This massive expiration highlights the growing sophistication of the crypto market. Whether you’re a pro or a beginner, understanding these dynamics is crucial. Stay alert: today’s expirations could lead to interesting actions.
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Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.