Tomorrow marks a significant day for cryptocurrency options trading, with over $8 billion worth of BTC and ETH options set to expire. This activity comes amidst volatility in both assets. 📈
Bitcoin (BTC) is currently hovering above its key resistance level, while Ethereum (ETH) has been experiencing price declines.
Deribit, a leading cryptocurrency options exchange, disclosed the impending expirations of more than $8 billion in BTC and ETH options on their platform. The total notional amount for Bitcoin options expected to expire is $7.2 billion, with a Put/Call Ratio of 0.73 and a Max Pain Point of $85,000.
Ethereum’s $801 million in expiring options will also be impacted by the same ratio of 0.73 and a Max Pain Point of $1,900.
Deribit has highlighted that Bitcoin is currently trading above its crucial Max Pain Point, while Ethereum is currently experiencing price drops. The options expiration data sheds light on the high-volume activity in the options market.
**Key Takeaways:**
• Over $8 Billion worth of crypto options will expire tomorrow.
• Bitcoin and Ethereum prices are showing signs of volatility.
• Deribit, a leading options exchange, has provided insights into these expirations.
• A significant number of traders may be positioning their trades ahead of the expiration deadlines.