Today, Bitcoin and Ethereum options worth approximately $3 billion are expiring. This significant event coincides with Donald Trump's inauguration and Bitcoin's new $100,000 milestone.
Cryptocurrency Market and Options Expiry
Today, over 21,600 Bitcoin options contracts, valued at around $2.2 billion, are expiring. The put-to-call ratio for Bitcoin stands at 0.94, indicating a positive outlook among traders who anticipate price increases. The maximum pain point is at $96,000. For Ethereum, 182,454 options contracts worth $612.2 million are expiring, with a put-to-call ratio of 0.36, suggesting even stronger bullish sentiment. The maximum pain price for Ethereum is $3,250. Options expirations typically lead to price fluctuations, and today is no different.
Bulls in BTC and ETH: Key Metrics
Traders are closely monitoring market movements as short-term implied volatility (IV) rises. Analysts recommend considering short-term options purchases as a strategic approach.
Factors Driving Bitcoin's Growth
Bitcoin's surge to $100,000 is largely attributed to optimism surrounding Trump's presidency. Additionally, the anticipation of stable interest rates contributes to the positive market sentiment. Bitcoin trades at $101,187, reflecting a 1.62% gain since the market opened. Analysts noted that while Asia and Europe sold Bitcoin earlier, American traders capitalized on the lower prices, reversing the trend and boosting the market.
Overall, as the Trump administration's crypto policies and ETF inflows develop, analysts expect ongoing market activity influenced by political factors.
