Bitcoin It rose above $66,000 after the US data this week.
BTC And altcoinWhile the rise is expected to continue, all eyes are on Bitcoin and Ethereum options that will expire today.
Singapore based crypto options data platform According to Greeks.live, 18,000 BTC and 320,000 ETH options will expire on May 17.
According to this, BTC While the Put/Call Ratio of the options is 0.63, the maximum loss point is $63,000 and the notional value is $1.2 billion.
Looking at Ethereum ETH The options have a Put/Call Ratio of 0.28, a maximum loss point of $3,000, and a notional value of $930 million.
The Maximum Loss Point often acts as a magnet for the market price as option sellers try to push the price towards this point to minimize their payout.
BTC Looking from the perspective of BTC, the market price remains above the maximum loss point, which may be a sign that the pressure on the BTC price will continue and there will be a correction.
Stating that BTC ETFs experienced a significant amount of inflow due to the meme wave in the USA this week, Greeks.live said that BTC rose above $ 65,000 due to the impact of these events.
Greeks.live also said that while long and short positions in BTC are more balanced, the weakness of the ETH price has caused market confidence to weaken and sell calls to be abundant.
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 0.63; For Ethereum it appears as 0.28. Accordingly, these rates BTC and ETH It indicates an upward trend. However, time will tell how these rates will affect the price. At this point, do not make your investment decisions based on a single data or report.
Options Data for May 17th
18,000 BTC options are about to expire with a Put Call Ratio of 0.63, a Maxpain point of $63,000 and a notional value of $1.2 billion.
320,000 ETH options are due to expire with a Put Call Ratio of 0.28, a Maxpain point of $3,000 and a notional value… pic.twitter.com/pgc8h9v2ek— Greeks.live (@GreeksLive) May 17, 2024
*This is not investment advice.
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