Bitcoin continues to display strong growth, reaching new all-time highs, positively affecting other cryptocurrencies like Ethereum. Over $5 billion in options expiration is expected today.
Market Overview
In the backdrop of Bitcoin's rising price, which has reached a new all-time high of $118,410, the cryptocurrency market shows significant revival. Ethereum is also demonstrating growth, surpassing the psychological mark of $3,000.
Bitcoin Options Expiration
According to Deribit data, 37,000 Bitcoin options with a notional value of $4.35 billion are set to expire today. The max pain price is at $108,000, significantly below Bitcoin's current market price. At the time of writing, the put-call ratio is at 1.07, suggesting traders are focusing on puts.
Ethereum Options Expiration
Moreover, 240,000 Ethereum options with a notional value of $710 million are set to expire today. The max pain price is at $2,600, with a put-call ratio of 1.12, indicating bearish sentiment among derivatives traders. Despite this, call trades have doubled put trades in the last 24 hours.
Cryptocurrencies continue to hold investor interest, showcasing high volatility. The anticipated expiration of options may influence the market's forthcoming direction.
