On August 8, Deribit released data about the expiry of Bitcoin and Ethereum options. The cryptocurrency market shows a positive trend, up nearly 3%.
Data on BTC and ETH Options
Deribit announced that over $4.9 billion worth of BTC and ETH options will expire on August 8. Of this amount, $4.15 billion pertains to Bitcoin options, with a Put/Call Ratio of 1.38 and a Max Pain Point of $115,000. Ethereum options total $792 million, with a Put/Call Ratio of 1.06 and a Max Pain Point of $3,600. At the time of writing, both BTC and ETH are trading above their Max Pain Points.
Price Trajectories of Bitcoin and Ethereum
At the time of writing, BTC is trading above $116,000, up 2% over the past 24 hours, having rebounded from $114,000 levels amidst market optimism. ETH is performing better, up over 7% in the last 24 hours, trading above $3,800, following a rebound from $3,500 levels on August 6.
Market Optimism Background
Market optimism has been buoyed by new reports stating that U.S. President Donald Trump will sign an executive order allowing access to alternative assets in 401(k) retirement plans. It is expected that the new order will allow private equity, real estate, crypto, and other alternative assets in retirement accounts. On August 6, Bitcoin ETFs recorded an inflow of over $91 million.
As options on Bitcoin and Ethereum approach expiry, the market shows positive trends, indicating a growing interest in cryptocurrencies from institutional investors.
