{"id":51134,"date":"2024-06-01T01:54:00","date_gmt":"2024-06-01T01:54:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-ether-options-expiry-impact"},"modified":"2024-06-01T08:14:18","modified_gmt":"2024-06-01T08:14:18","slug":"8-2b-in-bitcoin-and-ether-options-expire-heres-how-it-could-impact-the-markets","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51134","title":{"rendered":"$8.2B in Bitcoin and Ether options expire, here\u2019s how it could impact the markets"},"content":{"rendered":"

On May 31, 69,000 Bitcoin options worth $4.7 billion and 920,000 Ether options worth $3.5 billion expire. The expiry of crypto options contracts is historically linked to price volatility in the crypto market.<\/p>\n

\"\"
Source:GreeksLive<\/em><\/figcaption><\/figure>\n

According to the Deribit data, the put\/call ratio for the expired Bitcoin (BTC) options is 0.61. This means more calls (or long contracts) are expiring than puts (or shorts). On the other hand, Ether (ETH)\u00a0\u00a0options had a put\/call ratio of 0.46.<\/p>\n

The put\/call ratio (PCR) is a technical indicator that reflects trader market sentiment. A PCR below 0.7 is considered a strong bullish sentiment, while a PCR above 1 is considered a strong bearish sentiment.<\/p>\n

Max pain for Bitcoin at $66,000, ETH at $3,300<\/h2>\n

The maximum pain point at which most losses will be made by the leverage traders for Bitcoin is $66,000. For ETH, the max pain point is $3,300. BTC is currently trading at $68,210, $2,000 above the pain point, and ETH is trading at $3,738, more than $400 above its pain point.<\/p>\n

\"\"
BTC options all expiration: Open interest by strike price. Source: Deribit<\/em><\/figcaption><\/figure>\n

Millions in open interest (OI) are in long positions with strike prices at $70,000, $75,000, $80,000, and even $100,000. Open interest refers to the total number of outstanding derivative contracts that have not been settled.<\/p>\n

A few traders have placed long positions on Bitcoin with a target price of $100,000. With $886 million in open interest (OI) at this strike price, the number of long positions appears significant. The total notional value of all outstanding BTC options contracts amounts to $19 billion.<\/p>\n

Post-spot ETH approval hangover<\/h2>\n

The spot ETH ETF approval by the Securities and Exchange Commission (SEC) in May was a significant and bullish event for the crypto market. ETH prices rose 20% in May in anticipation of the approval. However, the SEC only approved the 19b-4 filing, thus delaying the actual listing for trading.<\/p>\n

Since the ETH ETF approval, the crypto market has shown a bearish sideways movement, with ETH stuck below $4,000 and BTC below the $70,000 price barrier. Currently, the crypto market is experiencing bearish momentum, correcting from the bullish surge of the past two weeks.<\/p>\n

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On May 31, 69,000 Bitcoin options worth $4.7 billion and 920,000 Ether options worth $3.5 billion expire. The expiry of crypto options contracts is historically linked to price volatility in the crypto market. Source:GreeksLive According … $8.2B in Bitcoin and Ether options expire, here\u2019s how it could impact the markets<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51137,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3812,5652,276,159,6693],"class_list":["post-51134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-ethereum","tag-hyipnews","tag-moneyonline","exalt-entry"],"yoast_head":"\n$8.2B in Bitcoin and Ether options expire, here\u2019s how it could impact the markets - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51134\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$8.2B in Bitcoin and Ether options expire, here\u2019s how it could impact the markets - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"On May 31, 69,000 Bitcoin options worth $4.7 billion and 920,000 Ether options worth $3.5 billion expire. 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