Recent US Producer Price Index (PPI) data has led to significant fluctuations in the cryptocurrency market, including Bitcoin and Ethereum, raising investor concerns.
Options Market for Bitcoin and Ethereum
On August 15, options worth $4.7 billion for Bitcoin and $1.3 billion for Ethereum are set to expire on the Deribit exchange. The Put/Call ratio for BTC stands at 0.90, indicating a predominance of call options, while for ETH this ratio is 1.02, showing more put options.
Volatility and Correction Analysis
The price correction for Bitcoin and Ethereum occurred amidst PPI data. Analysts noted that despite the drop, there are no significant changes in the options market. The maximum pain point for BTC is at $117,000, while for ETH it is at $4,000.
Trading Volume and Future Expectations
Trading volume on Deribit reached $10.9 billion, setting a record. Analysts suggest that the high trading volume indicates optimism among market participants and the potential for continued bullish trends.
Despite short-term price fluctuations, the market shows signs of resilience and opportunities for further growth.
