The cryptocurrency market is facing challenging times as Bitcoin and Ethereum experience sharp price fluctuations. Significant options are expiring against this backdrop.
Crypto Market Amid Options Expiry
Today, thousands of Bitcoin and Ethereum options are expiring. These options are particularly important as they expire on the last Friday of the month on the Deribit platform.
Impact on Bitcoin and Ethereum Prices
Analysts note that a downtrend dominates the market. The maximum loss point for Bitcoin is $96,000, and for Ethereum, it's $3,000. These levels are critical to watch.
Significance of the Put/Call Ratio
The Put/Call Ratio for Bitcoin is 0.7, indicating an ongoing upward trend. For Ethereum, the ratio is 0.52. However, it is important to consider various factors when evaluating the market.
The cryptocurrency market is facing significant challenges amid the expiry of major options. It is crucial for investors to keep an eye on key price levels.
