In light of the news of a ceasefire between Israel and Iran, Bitcoin (BTC) has shown a significant rise, reaching a value of $108,000. However, it currently continues to fluctuate around $107,000.
Rise in Bitcoin Value
At the beginning of the week, Bitcoin was valued at $100,000 and subsequently increased to over $108,000. This movement was related to new political events, accompanied by heightened interest in cryptocurrency.
Options Expiration and Volatility
Today, as every Friday, the expiration of options contracts is taking place in the crypto market. On the Deribit exchange, $15 billion worth of Bitcoin and $2.29 billion worth of Ethereum options are set to expire. The Put/Call ratio for Bitcoin stands at 0.75, and the maximum pain point is at $102,000.
Expert Opinions and Investment Strategies
Lin Chen, Head of Business Development at Deribit Asia, noted that the rise in put options does not necessarily indicate bearish sentiment among investors. He clarified:
> “The increase in put options does not mean investors expect a decline in Bitcoin. Investors are acting strategically. Traders are taking positions either to sell put options and earn premium or to avoid being left out in the face of a possible decline and to buy BTC at the bottom.”
All of this suggests potential market changes as the expiration of options approaches on June 27.
Options data indicates possible increased volatility in the Bitcoin market as significant option contracts approach expiration. Analyzing the situation and expert opinions highlights the importance of a strategic approach among investors in times of uncertainty.
