Bitcoin And altcoinWhile there is excitement for the end of 2023 in the coming days, BTC options for the last three months of 2023 will expire tomorrow.
BTC It continues to hold above $40,000 while there is a short time until the options expire.
At this point, cryptocurrency exchange Deribit’s options worth $7.7 billion in Bitcoin and $3.5 billion in Ethereum will expire tomorrow.
Speaking to Coindesk, Deribit chief commercial officer Luuk Strijers “A total of over $11 billion in options in BTC and ETH marks Deribit’s largest expiration yet. “After expiration, all eyes and trading activities will focus on the upcoming spot Bitcoin ETF decision.” said.
According to this, While the Put/Call Ratio of BTC options was 0.66, the maximum loss point was seen to be $33,000.
Looking at Ethereum While the Put/Call Ratio of ETH options was 0.50, the maximum loss point was found to be $1,900..
Evaluating maximum loss point levels (MPP), market analyst Chang said he expects prices to remain stable before option expiration on Friday:
“The BTC MPP level is around $33,000 and the ETH MPP level is around $1,900.
Current BTC is far from ETH prices. MPP may provide significant points from time to time, but for now we expect BTC and ETH to move very little towards MPP levels.
“You don’t have to worry too much about MPP levels.”
Finally, when we look at the Put/call ratio, it 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 0.66; For Ethereum it appears as 0.50. Accordingly, these rates BTC And ETH Although it points to an upward trend for , time will tell how these rates will affect prices along with other data and signals.
*This is not investment advice.
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