Markets
$8 Billion Crypto Options Set to Expire Today
Find out how the $8.12 billion Bitcoin and cryptocurrency options expiry could influence the cryptocurrency market. Stay informed about potential price actions.
With $8.12 billion worth of Bitcoin and Ethereum options expiring today, the crypto landscape is on high alert for any market movement.
Bitcoin’s share is $4.65 billion across 261,390 contracts. The deribit data shows a put-to-call ratio of 0.6, pointing to bullish trader sentiment.
(GeekLive)
The maximum pain point for these expiring Bitcoin options is $65,000, according to Geek.Live data.
Likewise, Ethereum options are also seeing a big expiration today, with 2,750,922 contracts about to expire, worth $3.47 billion in notional value.
The put-to-call ratio for ETH also slightly favors calls over puts.
Crypto markets are primed for extreme price action 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, Maxpain point of $3,300 and notional value of $3.5 billion.
The crypto market… pic.twitter.com/1yMZymIcYZ-Greeks.live (@GreeksLive) May 31, 2024
Crypto Options: Current Market Sentiment and Volatility
Right now, millions of open contracts are betting on Bitcoin to reach $70K, $75K, $80K, and even $100K.
Greeks.live says volatility will remain low, creating a good backdrop for options trading. Expect some price drama with these expiries, but don’t worry too much – markets typically stabilize the next day.
DISCOVER: How to Buy Bitcoin Anonymously in 2024
In May, the SEC gave the green light to an ETH spot ETF, triggering a 20% increase in ETH prices. However, approval was only for the 19b-4 Filingdelaying real action.
After approval, the market was neutral. ETH remains below $4,000 and BTC is below $70,000. The recent bull run is now correcting into a bearish phase.
(BTCETH)
Conclusion: keep an eye on the market
History shows that any wild movement is usually short-lived. Traders should pay attention to key indicators and remain alert.
This massive expiry highlights the growing sophistication of the crypto market. Whether you’re a pro or a novice, understanding these dynamics is crucial. Stay alert: today’s expirations could lead to some interesting stocks.
TO EXPLORE: Crypto Whales Rinsed by Latest Phishing Scam – Here’s How to Avoid $6.9 Million Losses
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.