Bitcoin Options Expiry: $2.3 Billion at Stake
As Friday rolls in, the crypto market braces for a significant event – a $2.3 billion Bitcoin options expiry scheduled for today. Market analysts are closely monitoring the situation, especially with the escalating trade tensions between the U.S. and China.
According to data from Deribit, approximately 27,794 Bitcoin options contracts, valued at around $2.32 billion, are set to expire. The put-to-call ratio of 0.93 suggests a bullish sentiment prevailing in the market.
The ‘maximum pain’ price, which indicates the level at which most options contracts will lose value, is pegged at $81,000. This could potentially influence short-term price movements as traders react to the expirations.
Of particular interest is the open interest of $1.7 billion centered around the $80,000 strike price, signaling optimism among investors anticipating an upward trajectory.
Ethereum Options Expiry: $286 Million on the Line
Alongside Bitcoin, Ethereum is also gearing up for a substantial options expiry, with contracts worth $286 million reaching maturity today. A total of 204,010 Ethereum contracts are set to expire, with a put-to-call ratio of 0.92.
The ‘maximum pain’ price for Ethereum is set at $1,700, highlighting the importance of this level in determining price movements.
Market Volatility Looms
The global market landscape is turbulent, with the U.S.-China trade war intensifying. China’s retaliatory move to impose a 145% tariff on U.S. goods has injected further uncertainty into the market, potentially making investors jittery.
Bitcoin has managed to bounce back from a recent low of $74,400 and is currently trading around $82,000. On the other hand, Ethereum is hovering around $1,570, testing a crucial resistance zone at $1,580-$1,600. A breakthrough above this level could propel ETH towards $1,680.