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2024/10/07 09:14

Bitcoin and Ethereum options expiries unleash $1.3

Bitcoin and Ethereum options expiries unleash $1.35 billion, setting the stage for a pivotal Q4 in the crypto market amid global trends.

Data from Greeks.Live details the expiring options for Bitcoin and Ethereum, showcasing the prevailing sentiment and positioning among traders.

The expiration of 17,500 Bitcoin options reflects a complex sentiment landscape among investors. With a Put Call Ratio of 0.75 and a max pain point set at $63,000, the figures suggest a tilt toward a more protective stance among participants. Bitcoin has experienced a surge, climbing 1.39% in the past 24 hours to reach $61,167 as of press time, a movement potentially influenced by these expirations.

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Meanwhile, the notional value of these options is a significant $1.07 billion. As these options expire, the attention remains on the potential shifts in strategy, particularly in response to global financial trends and the nearing U.S. elections.Bitcoin’s open interest dynamics show a lower PCR of 0.49, with 166,364 calls to 81,448 puts. As we approach another expiry date on October 25, where 21.84% of open interest is focused, market watchers anticipate potential volatility spikes. This observation aligns with the broader expectation of a year-end rally, bolstered by historical fourth-quarter performances.

Open Interest BTC Source X
Open Interest BTC Source X
Ethereum Options Signal Bullish Surge
Ethereum options, with a recent expiry involving 119,000 contracts, tell a story of burgeoning confidence. The PCR here stands at 0.68, leaning towards calls, with a max pain threshold at $2,500 and a notional value of $280 million. The substantial open interest of 1,068,323 calls compared to 535,556 puts for Ethereum reinforces a bullish outlook in contrast to Bitcoin’s cautious optimism.

This sentiment is even more pronounced for Ethereum’s upcoming major maturity at the end of December, capturing 34.68% of the total open interest. The concentration of positions around this date highlights traders’ expectations for Ethereum’s performance towards the year-end.

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