On July 4, over $3.56 billion in Bitcoin and Ethereum options will expire on Deribit, occurring amidst growing optimism in the cryptocurrency market.
Deribit Options Expiry Data
On July 3, Deribit announced that over $3.56 billion in Bitcoin and Ethereum options will expire on July 4. Of this, $2.98 billion pertains to Bitcoin options with a Max Pain Point of $106,000 and a Put/Call Ratio of 1.01. The remaining $584 million concerns Ethereum options with a Max Pain Point of $2,500 and a Put/Call Ratio of 1.28.
Bitcoin and Ethereum Trading on July 3
At the time of writing, Bitcoin is trading above $109,000, up nearly 2% in the past 24 hours. Ethereum is trading near $2,600, performing better than Bitcoin with an increase of nearly 6% over the same period.
Market Sentiment Analysis
The optimism in the cryptocurrency market ahead of the U.S. Independence Day on July 4 supports the rising prices of Bitcoin and Ethereum. Contributing factors include global adoption of cryptocurrencies, asset accumulation, and favorable industry news.
The expiry of options on July 4 at Deribit may impact the prices of Bitcoin and Ethereum, as the current market shows bullish trends.
