- Put-Call Ratio and its Significance
- Max Pain Point for ETH and BTC
- Market Expectations Ahead of Jerome Powell's Speech
According to data provided by Greeks.live, 140,000 ETH options are on track to expire with a put-call ratio of 0.93. This could significantly impact current market sentiments.
Put-Call Ratio and its Significance
The put-call ratio is calculated by dividing open interest in put contracts by open interest in call contracts during the same period of time. This ratio is usually treated as an important market sentiment indicator. A low put-call ratio suggests that the market is overly bullish (and vice versa).
Max Pain Point for ETH and BTC
For the leading alternative cryptocurrency, the max pain point is at $2,625. This means that this is the strike price with the biggest number of option contracts. As the term implies, such a strike price would cause the steepest financial losses for the holders of such option contracts. As for Bitcoin, 18,000 BTC options are on track to expire with a put-call ratio of 0.83. The max pain point is at the make-it-or-break-it $60,000 level.
Market Expectations Ahead of Jerome Powell's Speech
According to CoinGecko data, Bitcoin and Ethereum are trading at $60,870 and $2,666, respectively. Greeks.live notes that options data suggests that the market is currently extremely calm, with positions in weekly options continuing their decline. "With the market being relatively flat, waiting seems to be the best strategy," it added. Traders and investors are, of course, waiting with bated breath for the much-anticipated speech of Federal Reserve Chair Jerome Powell that is going to take place this Friday in Jackson Hole, Wyoming.
Expectations from Jerome Powell's upcoming speech and current options data create a calm yet tense sentiment in the cryptocurrency market. It is important to closely monitor further events that could affect market stability and direction.
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