Tomorrow, a major event will take place on Deribit, a leading crypto options exchange, where options contracts worth approximately $3.9 billion will expire. This is expected to induce volatility in both Bitcoin and Ethereum markets.
Total Value of Expiring Options Contracts
Of the total amount, $3.3 billion consists of Bitcoin options, while the remaining $546 million comprises Ethereum options. The Put/Call ratio for Bitcoin stands at 1.16, indicating a slight downtrend as traders hold more put options than calls.
Market Position for Bitcoin
The maximum pain point for Bitcoin is set at $106,000, which is the price at which the option becomes worthless. This suggests a somewhat neutral position in the market. Market data suggests that BTC options are clustered around this level, indicating a balanced outlook from investors ahead of expiration.
Market Position for Ethereum
Ethereum options present a more optimistic overall picture, with a Put/Call ratio of just 0.68. The maximum pain price for ETH is $2,600, with option activity weighted towards call positions, indicating strong expectations for upward price movements.
As the expiration of options contracts approaches, significant volatility is anticipated on the Bitcoin and Ethereum markets. Traders and analysts are keeping a close watch on the market to see whether their expectations will hold true or if surprises will disrupt the charts.
