$4,210,000,000 worth of Bitcoin & Ethereum options expire today.
Today's expiration of Bitcoin and Ethereum options is a significant event, with $4.21 billion worth of contracts set to expire. Breaking it down, we have approximately $3.22 billion in Bitcoin options and $0.82 billion in Ethereum options expiring on Deribit.
Key Details
Bitcoin Options: 28,000 contracts are expiring with a putcall ratio of 1.23, indicating bearish sentiment among traders. The max pain price is $112,000.
Ethereum Options: 185,000 contracts are expiring with a putcall ratio of 0.97, showing negative sentiment. The max pain price is $4,400.
Market Implications
Volatility: Options expiration can lead to increased market volatility as traders adjust positions.
Price Movement: Prices might gravitate toward max pain points ($112,000 for BTC and $4,400 for ETH).
Sentiment: Bearish sentiment is evident for Bitcoin, while Ethereum's sentiment is also leaning negative.
Current Market Context
Bitcoin's price is around $114,000, and Ethereum's price is approximately $4,435, with traders watching key economic data like US CPI inflation and Fed rate cuts for direction.