It is noteworthy that the option periods for Bitcoin and Ethereum will expire. Now the question in mind is how prices will be affected. Let’s look at the details.
Options data for Bitcoin and Ethereum
The leading cryptocurrency Bitcoin has experienced a decline recently. Accordingly, it currently seems to have stabilized at $26,720. Investors are eagerly waiting for the next move in the crypto market. On the other hand, all eyes are on Bitcoin and Ethereum options that will expire today.
🌊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
According to Singapore-based crypto options data platform Greeks.live, a significant number of options will expire today. Specifically, 24,000 BTC (Bitcoin) options and 190,000 ETH (Ethereum) options are about to expire. On the other hand, in the Bitcoin options segment, the Put/Call ratio currently stands at 1.23. The maximum loss point is set at $27,000 with a nominal value of $640 million. Meanwhile, Ethereum options have a Put/Call Ratio of 0.71. Accordingly, it indicates a different feeling. The maximum loss point for ETH options is $1,600 and they have a face value of $290 million.
Market sentiment and put/call rates
What makes the expiry of these options particularly interesting is the high percentage of pre-existing put positions in Bitcoin BTC. Having witnessed a decrease in liquidity in recent days, analysts suggest that this may indicate an upcoming significant market move. Put/Call ratio is a very important metric in determining market sentiment. This ratio is calculated by dividing the number of put options (betting on price declines) by the number of call options (betting on price increases). A ratio below 1 indicates that there are more call options than put options. It also shows that there is an upward trend. A ratio above 1 indicates there are more put options than call options. Accordingly, it indicates a downward trend. Finally, a ratio close to 1 indicates balanced or neutral market sentiment.
The current rate for Bitcoin is 1.23. This situation reflects the downward trend. On the other hand, Ethereum’s rate of 0.71 indicates a more bullish trend. These rates give an idea about market expectations. However, the real impact on prices emerges over time. When we look at Kriptokoin.com, the expiration day of options is approaching. Accordingly, the crypto community is closely watching how these rates may affect the price movements of Bitcoin and Ethereum. At the time of writing this article, Bitcoin is trading at approximately $26,770. Additionally, market participants are awaiting the outcome of these important expirations.
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