Today, the cryptocurrency market is witnessing a significant options expiry that may affect volatility and traders' strategies.
Options Expiry: Key Data
Nearly $6 billion in Bitcoin (BTC) and Ethereum (ETH) options are set to expire today. The 'max pain' level for Bitcoin is $117,000 with the current BTC price at $118,995. The put-call ratio for BTC options today is 0.90, indicating slightly more calls than puts. For Ethereum, the key expiry price is set at $4,000, with ETH currently trading at $4,629.
Market Reacts to Options Expiry
This week’s expiry surpasses last Friday’s, when nearly $5 billion in contracts lapsed. According to Greeks.live, the current expiries are occurring as markets digest recent macroeconomic data. Despite these fluctuations, analysts note that the options market remains stable.
Overall Market Sentiment
Market sentiment remains mixed. Some traders highlight strong buying momentum, while others express caution about a potential local top near $122,000 for BTC and $4,700 for ETH.
The expiry of options for Bitcoin and Ethereum today may significantly impact short-term volatility and trading strategies as the weekend approaches.
