On August 1, a significant amount of Bitcoin and Ethereum options expire on the Deribit exchange, contributing to market volatility.
Bitcoin and Ethereum Options Data
Today, over $7 billion in options for Bitcoin and Ethereum are set to expire on Deribit. Specifically, $5.72 billion for BTC with a Put/Call Ratio of 0.74 and a Max Pain Point of $116,000. For ETH, $1.35 billion expire with a Put/Call Ratio of 0.97 and a Max Pain Point of $3,500.
Bitcoin and Ethereum Price Movements on August 1
As of the writing of this article, BTC is trading above $114,000, seeing a decline of over 3% in the last 24 hours. Meanwhile, ETH is trading below $3,600, down more than 6%. Both assets have shown downward trajectories, starting from levels of $118,000 and $3,800 respectively.
Optimism in the Crypto Market
Despite current volatility, the crypto market maintains a sense of optimism. This week, a report by the White House working group highlighted the growing recognition of cryptocurrencies. Additionally, a Galaxy report indicated that public companies globally hold over $100 billion in crypto assets. Significant steps are also being taken towards accepting crypto as collateral in mortgage assessments.
In conclusion, despite volatility and current price fluctuations, the crypto market is showing signs of growth and further development.
