$930 Million Options on Bitcoin and Ethereum Expire Today! What is its Importance for BTC and ETH?

Leading cryptocurrency Bitcoin After the declines this week, it seems to have stabilized at $ 26,800 today.

At this point, while investors are trying to predict Bitcoin’s next move, all eyes are on the coins that will expire today. Bitcoin And Ethereum converted to options.

Singapore based crypto options data platform Greeks.live According to the news 24,000 BTC and 190,000 ETH options will expire.

According to this, BTC While the Put/Call Ratio of the options is 1.23, the maximum loss point is $27,000 and the face value is $640 million.

Looking at Ethereum ETH The options have a Put/Call Ratio of 0.71, a maximum loss point of $1,600, and a face value of $290 million.

🌊13 Oct Options Data
24,000 BTC options are about to expire with a Put Call Ratio of 1.23, a maximum pain point of $27,000 and a notional value of $640 million.
190,000 ETH options are about to expire with a Put Call Ratio of 0.71, a max pain of $1,600 and a notional value of $290… pic.twitter.com/CLu3NoqCiN

— Greeks.live (@GreeksLive) October 12, 2023

Interestingly, the share of put positions in Bitcoin remains high. As liquidity continues to dwindle in recent days, analysts said there are signs that significant market activity may be approaching.

The put/call ratio is calculated by dividing the number of put options by the number of call options. A ratio below 1 means there are more purchases than puts, indicating an upward trend.

A ratio above 1 means there are more put options than call options, indicating a bearish trend. A ratio close to 1 means the market is balanced or neutral.

While this rate is 1.23 for Bitcoin, it is 0.71 for Ethereum. Accordingly, these rates indicate that there may be a downward trend for BTC and an upward trend for ETH. Time will tell how these rates will affect the price.

Bitcoin At the time of writing, it continues to be traded at $ 26,770.

*This is not investment advice.