As the leading cryptocurrency Bitcoin struggles to surpass $43,000, all eyes are on the cryptocurrency that will expire today. Bitcoin and Ethereum converted to options.
According to the news of Singapore-based crypto options data platform Greeks.live, 22,000 BTC and 230,000 ETH options will expire on February 2.
Accordingly, while the Put/Call Ratio of BTC options is 0.66, the maximum loss point is $42,000 and the notional value is $960 million.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.33, a maximum loss point of $2,300, and a notional value of $530 million.
Stating that the crypto market has been relatively flat this week, Greeks.live explained that partial volatility is in a downward trend for the main terms:
“While the crypto market has been relatively flat this week, RV and IV have trended down for significant periods.
Bitcoin spot ETFs are starting to bring incremental capital into the crypto market as the Grayscale sell-off slows.
Block trading is quieter; Some whales are reducing their positions, especially taking profits by betting on the ETF.
“The next big thing after ETF approvals for Bitcoin is speculation about Bitcoin’s halving event, which is expected to bring bullish momentum to BTC this year.”
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.
This rate is 0.66 for Bitcoin and 0.33 for Ethereum. Accordingly, although these ratios below 1 indicate an upward trend for BTC and ETH, time will tell how these ratios will affect the prices along with other data and signals. At this point, do not make your investment decisions based on a single data or report.
Feb. 2 Options Data
22,000 BTC options are about to expire with a Put Call Ratio of 0.66, a Maxpain point of $42,000 and a notional value of $960 million.
230,000 ETH options are about to expire with a Put Call Ratio of 0.33, a Maxpain point of $2,300 and a notional value of… pic.twitter.com/tEQWxRXxtB— Greeks.live (@GreeksLive) February 2, 2024
*This is not investment advice.
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