This morning, Bitcoin and Ethereum options worth a total of $2.7 billion expired. This event led to a slight decrease in prices on both markets.
Large Options Expiry
Bitcoin options with a notional value of $2.09 billion and Ethereum options totaling $624 million concluded today at 8 AM UTC. Deribit exchange accounted for a significant portion of this expiry with $1.83 billion in Bitcoin options.
Max Pain Levels for BTC and ETH
The concept of 'max pain price' plays a critical role in price forecasting following options expiry. For Bitcoin, this level is $98,000, while for Ethereum it is $3,700.
Market Reaction and Future Prospects
Following the expiry of Bitcoin and Ethereum options, a slight dip in prices was observed. Traders will now monitor for further movements, considering max pain levels and technical targets.
As options have expired, traders will now focus on broader market trends and technical indicators to make further trading decisions.
