Title: Are Bitcoin and Ethereum About to Make a Comeback? Insights from Options Data
As Bitcoin experiences turbulent price movements, attention is now focused on the upcoming expiration of weekly options for Bitcoin and Ethereum.
Reports from Singapore-based crypto options data platform Greeks.live indicate that on June 14, a total of 20,000 BTC and 200,000 ETH options are set to expire.
The Put/Call Ratio for BTC options stands at 0.49, with a maximum loss point of $68,500 and a notional value of $1.35 billion. Meanwhile, ETH options have a Put/Call Ratio of 0.36, a maximum loss point of $3,600, and a notional value of $710 million.
Despite positive economic indicators, Bitcoin and altcoins have shown lackluster performance. However, there is anticipation surrounding the potential approval of an ETH ETF by the end of the month, prompting traders to consider buying options for the following month.
The fact that the maximum loss point for both Bitcoin and Ethereum is above their current price levels suggests a potential bullish sentiment among options traders. Additionally, the put/call ratios for BTC and ETH also point towards a bullish trend.
The put/call ratio, which compares the number of put options to call options, is below 1 for both Bitcoin and Ethereum, indicating an upward trend. While these ratios are promising, it is important to exercise caution and not base investment decisions solely on this data.
In conclusion, with the upcoming expiration of options for Bitcoin and Ethereum, all eyes are on whether these cryptocurrencies will see a resurgence in value. Stay tuned for further updates on this evolving market situation.
