Millions of dollars worth of Bitcoin (BTC) and Ethereum (ETH) options expired today for the first time following the approval of the Spot Bitcoin exchange-traded fund (ETF).
The cryptocurrency market witnessed a serious decline in the evening hours of January 12. As one of the reasons behind the decline expiring options came forward.
Offered by Greeks.live, cryptocurrency options markets data platform to the details Maturity of a large amount of Bitcoin options according to on January 12 is full.
Total due date $1.68 billion worth 36,000 BTC While there are options, these are average 0.9 Put Call ratio It consists of options. Bitcoin options The maximum pain price is 45,000 dollars positioned at the level. With Bitcoin expiry Drop to $43,410 It did not go unnoticed.
However, again on January 12 $680 million worth 262,000 ETHn options have also expired. of these assets 0.64 While the Put-Call ratio was found, it was one of the factors that pulled the Ethereum price down. The maximum pain level of Ethereum options is $2,400 While it is positioned at the level, the price decreases with maturity. to $2,571 decreased by .
Option expiry dates are generally in the markets volatile movements While it can create pain, the price may tend to move towards the maximum pain areas.
While Greeks.live predicts that the spot Bitcoin ETF approval will attract more investors to the cryptocurrency market in the long term, it will be in the coming days in the short term. up and adownward volatility may continue he stated.
According to CoinGecko data, in the last 24 hours Bitcoin lost 5.2% value From $43,490if Ethereum 2,584, down 0.4% from dollars is being traded.