Markets
Bitcoin and Ethereum options expiring, what’s next for BTC and ETH prices?
Today, the crypto market is abuzz as $1.96 billion worth of Bitcoin and Ethereum options are set to expire. This significant event could lead to short-term price movements for these major cryptocurrencies.
Bitcoin Options Expiration: A Brief Overview
Today, June 21, 2024, Bitcoin options with a notional value of $1.26 billion will expire. These 19,668.60 contracts have a put-to-call ratio of 0.45 and a maximum pain point of $66,500. The open interest rate for calls stands at 13,552.40, while that for puts stands at 6,116.20.
For June 22, 2024, tomorrow, Bitcoin options worth $93.77 million will expire. These 1,457.20 contracts have a put-to-call ratio of 1.29 and a maximum pain point of $65,500. The open interest rate for calls is 637.70 and for puts it is 819.50.
Ethereum Options Expiration: A Simple Analysis
Today, Ethereum options with a notional value totaling $693.37 million will expire. These 197,068 contracts have a put-to-call ratio of 0.30 and a maximum pain point of $3,500.
Tomorrow, June 22, 2024, Ethereum options worth $100.67 million will expire. These 28,908.00 contracts have a put-to-call ratio of 0.31, with a maximum pain point of $3,525. Buying open interest is 22,099 and selling open interest is 6,809.
Analysis and expectations of the Bitcoin and Ethereum market
Analysts have observed an increase in volume in futures options, particularly in block calls. Despite high realized volatility, implied volatility remained stable, indicating that no major market movements are expected ahead of the quarterly delivery.
The current price of Bitcoin is $64,215, with a 30-day change of -7.8% and a 7-day change of -4.0%. This week, BTC fluctuated between $66,748 and $64,215. Bitcoin’s 24-hour trading volume is $125.835 million, with a weekly peak of around $162.179 million.
Ethereum is currently priced at $3,485, with a 30-day change of -7.2% and a 7-day change of -1.2%. This week, ETH is between $3,467 and $3,624. Ethereum’s 24-hour trading volume is $11.693 million, with a weekly peak of around $28.152 million.
Although options expirations can cause temporary market disruptions, they usually lead to stabilization. As traders and investors face these expirations, the entire market should adjust accordingly.