The crypto derivatives market is gearing up for a significant options expiry on July 11, with both Bitcoin (BTC) and Ethereum (ETH) options possibly causing volatility.
BTC Options: Mixed Signals
37,000 BTC options set to expire carry a notional value of $4.3 billion, indicating significant interest from traders. The Put-Call Ratio (PCR) stands at 1.05, slightly favoring puts, reflecting a mildly bearish sentiment among investors. The Maxpain point is remarkably at $108,000, significantly above BTC’s current price range.
ETH Options: Similar Trends
Ethereum options show similar characteristics. With 240,000 contracts expiring, valued at $710 million, the Put-Call Ratio stands at 1.11, indicating a slight bearish leaning. The Maxpain point for ETH is $2,600, much closer to its current price, suggesting traders expect it to remain range-bound in the short term.
Market Condition Insights
The market situation indicates uncertainty on both sides as traders hedge against both upward and downward risks amidst constant volatility.
Thus, the expiry of options on BTC and ETH creates an atmosphere of uncertainty in the market, indicating that traders are actively adjusting to potential price changes.
