Markets
The $8 billion crypto options will expire today
Find out how the expiration of Bitcoin options and crypto options worth $8.12 billion could affect the cryptocurrency market. Stay informed about potential price action.
With $8.12 billion in Bitcoin and Ethereum options expiring today, the crypto scene is on high alert for any market movement.
Bitcoin’s share is $4.65 billion in 261,390 contracts. Debt data shows a put-to-call ratio of 0.6, indicating bullish trader sentiment.
(GeekLive)
The high tipping point for these expiring Bitcoin options is $65,000, according to Geek.Live data.
Likewise, Ethereum options are also seeing a major 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.
Cryptocurrency markets are poised for extreme price action based on this news.
Options data as of May 31st
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
Right now, millions of people with open interests are betting on Bitcoin to reach $70,000, $75,000, $80,000 and even $100,000.
Greeks.live says volatility will remain low, creating a good scene for options trading. Expect some price drama from these deadlines, but don’t worry too much: markets typically stabilize by the next day.
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In May, the SEC gave the green light to an ETH spot ETF, triggering a 20% increase in ETH prices. Yet, the approval was only for the 19b-4 archivingdelaying the actual action.
After the approval, the market remained stuck in a neutral position. ETH remains below $4,000 and BTC below $70,000. The recent bull run is now correcting into a bearish phase.
(BTCET)
Bottom line: keep an eye on the market
History shows that wild moves are usually short-lived. Traders should keep an eye on key indicators and remain vigilant.
This massive expiration highlights the growing sophistication of the cryptocurrency market. Whether you are a professional or a beginner, grasping these dynamics is essential. Be on the lookout: Today’s expiration could lead to some interesting stocks.
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Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.