Massive $10 Billion Options Event Rocks Bitcoin and Ethereum Markets!
In a seismic shift for the crypto world, investors and traders are eyeing the expiry of $6.68 billion in Bitcoin (BTC) options and $3.5 billion in Ethereum (ETH) options on Deribit today. Despite recent volatility that saw Bitcoin experience significant drops, option traders remain optimistic, predicting potential record highs by month’s end. This optimism stems from expectations of forthcoming U.S. interest rate cuts and anticipated inflows into ETFs.
As BTC gears up for its weekly, monthly, and quarterly closes, attention is squarely on these substantial option expirations. According to Greeks.live, a Singapore-based crypto options platform, today marks the expiry of 107,000 BTC and 1.04 million ETH options. The metrics paint a nuanced picture: BTC’s Put/Call Ratio stands at 0.5, with a maximum loss threshold at $57,000, and a notional value totaling $6.6 billion. Meanwhile, ETH options feature a Put/Call Ratio of 0.59, a maximum loss point at $3,100, and a notional value reaching $3.6 billion.
June has proven challenging for the crypto market, as reflected in the sentiment from Greeks.live: “Today, options with a combined notional value exceeding $10 billion reach maturity. As BTC and ETH prices approached what was once deemed unattainable Maxpain points, a more cautious atmosphere pervaded.”
The Put/Call Ratios, at 0.5 for BTC and 0.59 for ETH, suggest upward trends for both cryptocurrencies. However, the ultimate impact on prices remains uncertain, emphasizing the need to avoid hasty investment decisions based on singular data points or reports.
Today’s expiry is a pivotal moment for crypto enthusiasts and traders alike. Stay informed with Greeks.live for exclusive news, analytics, and on-chain data.
*This article does not provide investment advice. For trading opportunities across 300+ cryptocurrencies, consider registering with Binance exchange using this link for a 20% commission discount.
