Leading cryptocurrency Bitcoin Although it reached $69,000 on March 5, it could not stay there due to the selling pressure it encountered, but a few days later it broke a record and exceeded $69,000.
Since that day BTC While ATH was renewed by exceeding $ 73,000, it experienced a correction that started yesterday evening and went up to $ 65,000.
This correction in Bitcoin is the first Ethereum to be in altcoins While it was also effective, all eyes turned to Bitcoin and Ethereum options that will expire today.
Singapore based crypto options data platform According to Greeks.live, 30,000 BTC and 330,000 ETH options will expire on March 15.
Accordingly, while the Put/Call Ratio of BTC options is 0.79, the maximum loss point is $66,000 and the notional value is $2.1 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.69, a maximum loss point of $3,550, and a notional value of $1.25 billion.
Due to slowdown in spot Bitcoin ETF inflows BTC Stating that the price has decreased, Greeks.live said:
“The crypto market remained strong this week, with the Bitcoin price rising above $70,000 at one point.
However, yesterday we saw a slowdown in Bitcoin ETF inflows and the BTC price began to pull back.
US BTC ETFs are driving the spot bull market, now fund inflows have slowed, price is oscillating, but options volume and positions continue to increase.”
What Does the Put/Call Ratio Indicate for Bitcoin and Ethereum?
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.
For Bitcoin, this rate is 0.79; For Ethereum it appears as 0.69. Accordingly, the fact that this ratio is close to 1 for BTC indicates that the situation is balanced and neutral for BTC; It indicates a bullish trend for ETH.
However, time will tell how these rates, along with other data and signals, will affect prices. At this point, do not make your investment decisions based on a single data or report.
March 15 Options Data
30,000 BTC options expired with a Put Call Ratio of 0.79, a Maxpain point of $66,000 and a notional value of $2.1 billion.
330,000 ETH options expired with a Put Call Ratio of 0.69, Maxpain point of $3,550 and a notional value of $1.25 billion.
The crypto… pic.twitter.com/DNTZjhTFVp— Greeks.live (@GreeksLive) March 15, 2024
*This is not investment advice.
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