Bitcoin Investors continue to witness significant developments in 2023, where there is an impressive 160% increase in price. As we move into 2024, BTC remains the best option for investors and expectations are growing daily for the upcoming launch of the market’s first BTC ETF.
With days left until 2024, it is time for the final Bitcoin option expiration for 2023. According to data from Greeks.Live, as of December 29 cryptocurrency The options market is preparing for an important expiration. Approximately 178,000 BTC options will expire and have a Put Call Ratio of 0.67. The maximum pain point was set at $33,000, while a significant nominal value approached $7.59 billion.
Today, a total of 11 billion dollars of options will expire. This figure represents more than last year’s total position on the annual delivery day, which was $9.8 billion. Additionally, the current volume is more than double the annual delivery volume observed during the same period last year.
Although these options, which expire at the end of each year, usually trigger sharp volatility, the Bitcoin ETF, which is expected to be approved next year, keeps investors excited. Therefore, the current overall Implied Volatility (IV) level remains relatively stable.
Top market players are preparing for Bitcoin ETF approval by the SEC. According to the tentative schedule, this will happen around January 10, 2024.