Over $2.2 billion in Bitcoin and Ethereum options expire with moderately bullish outlook.
Crypto assets have had a whirlwind week marked by optimism and despair. Prices started off strong, only to rapidly shed all of the previous week’s gains amid continued macroeconomic headwinds.
Capping off this whirlwind week is a significant options expiry. While the data appears to be moderately bullish, there is a catch. $2.2B in Bitcoin and Ethereum Options Expire Over $2.2 billion in Bitcoin and Ethereum options expired by 8:00 UTC on Friday, January 10. Specifically, the Bitcoin market saw 19,000 BTC options worth $1.81 billion expire with a 0.65 put-call ratio and a max pain point of $97,000.
Meanwhile, the Ethereum market saw the expiry of 141,000 ETH options worth $460 million with a put-call ratio of 0.48 and a max pain point of $3,450.
The expiry of the options contracts with put-call ratios below 0.7 suggests bullish sentiment, especially for Ethereum, as it suggests that for every five puts, there are roughly ten call
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