The situation in the cryptocurrency market is tense due to the expiration of options contracts, impacting Bitcoin and Ethereum prices.
Cryptocurrency Market Amid Options Contracts
Bitcoin (BTC) fell to $106,000 after reaching a record of $111,000 last week. The expiration of option contracts always raises market concerns, especially when it occurs on the last Friday of the month. Analysts are focused on how this will aid or hinder current trends.
Data on Bitcoin and Ethereum Options
According to Greeks.live, 93,000 Bitcoin options and 624,000 Ethereum options will expire on May 30 on the Deribit exchange. The BTC Put/Call ratio is 0.89, with a maximum pain point at $100,000. For ETH, these figures are 0.81 and $2,300, respectively. The overall notional value of options exceeds $9.79 billion for BTC and $1.62 billion for ETH.
Analysis of Current Market Trends
Analysts note Bitcoin's volatility this week, while Ethereum demonstrates greater resilience. Although the Pull/Call ratios indicate market optimism, the maximum loss levels risk further price decline. ‘Data suggests that the market still hopes for new highs for Bitcoin in the near future,’ analysts add.
The cryptocurrency market is currently in a state of uncertainty, especially in light of the expiration of options contracts. Price fluctuations are expected to continue based on market participant responses.
