Bitcoin and Ethereum are gearing up for a volatile trading session as a significant amount of options are set to expire today. With $2.02 billion in Bitcoin options and $280 million in Ethereum options reaching their expiry, traders are bracing themselves for potential price swings.
Historically, these high-stakes expiries have been known to trigger sudden movements in the market, especially when there is a significant difference in Open Interest and sentiment indicators. As traders scramble to protect their capital or maximize gains, both Bitcoin and Ethereum face heightened intraday risk.
Bitcoin, currently trading at $84,493.50, is showing a bullish bias as Open Interest has climbed to $54.73 billion, indicating stronger participation leading into the expiry. Market makers are aiming to minimize payouts, with the Max Pain hovering near $90,000. Smart money sentiment is positive, suggesting institutional players expect an upward move. However, there is an imbalance in liquidation data, with over-leveraged longs at risk if momentum stalls.
On the other hand, Ethereum, trading at $1,581.17, is facing heavier sell pressure, with whale inflows and sentiment skewing sharply bearish. The Max Pain for Ethereum is at $1,600, hinting at price magnetism towards that level. Both crowd sentiment and smart money sentiment are negative, reinforcing a dominant bearish outlook. On-chain positioning appears heavy, with traders and whales hesitant to make strong moves until the expiry dust settles.
Whale behavior and on-chain flows offer further insight into today’s volatility. Bitcoin has seen 15,000 BTC withdrawn from exchanges over the past week, aligning with smart money’s bullish stance and suggesting post-expiry stability or upside traction. In contrast, Galaxy Digital has deposited 62,181 ETH worth $99.46 million to exchanges in just six days, indicating sell pressure or hedging behavior, especially in the face of bearish sentiment.
Overall, while Bitcoin shows signs of resilience, Ethereum may be entering a more volatile phase influenced by its expiry dynamics and whale flows. Traders should remain vigilant as the market’s reaction to the expiry may set the tone for the weekend and potentially the broader short-term trend. When it comes to living a healthy lifestyle, there are many factors to consider. From maintaining a balanced diet to getting regular exercise, there are countless ways to improve your overall well-being. However, one aspect that is often overlooked is the importance of proper hydration.
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