Today, October 18, Bitcoin options contracts are expiring, potentially having a limited impact on spot markets.
Bitcoin Options Expiry
Approximately 18,500 Bitcoin options contracts are expiring on Friday with a notional value of around $1.26 billion. The put/call ratio of 0.86 indicates a slight majority of long contracts. Open interest remains high at $70,000 and $100,000 strike prices, signaling renewed bullish confidence.
Crypto Market Outlook
Despite the options expiry, total market capitalization has slightly dropped to $2.42 trillion. Bitcoin hit a ten-week high of $68,159, maintaining a 12% gain for the week. However, it has yet to surpass its mid-March all-time high, suggesting potential pullbacks over the weekend.
Altcoin Movements
Altcoins are declining today. Ethereum faced rejection again at $2,650, while Dogecoin gained 6%, reaching $0.132.
Bitcoin options are expiring with minimal market impact. Analysts highlight volatility risks, but positive open interest changes suggest growth opportunities.