10 Billion Dollar Option Earthquake in Bitcoin and Ethereum! What to Expect in BTC and ETH Price?
Although the leading cryptocurrency Bitcoin has experienced sudden and sharp declines in recent days, options traders expect Bitcoin to reach a record level by the end of the month in the face of possible interest rate cuts in the USA and expectations of increased ETF inflows.
As BTC prepares for the weekly, monthly and quarterly close, investors are focused on $6.68 billion worth of Bitcoin (BTC) and $3.5 billion worth of Ethereum (ETH) options on Deribit that expire today, June 28.
According to the news of Singapore-based crypto options data platform Greeks.live, 107 thousand BTC and 1.04 million ETH options will expire on June 28.
Accordingly, while the Put/Call Ratio of BTC options is 0.5, the maximum loss point is $57,000 and the notional value is $6.6 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.59, a maximum loss point of $3,100, and a notional value of $3.6 billion.
Greeks stated that June was a difficult month for the cryptocurrency market. lived said:
“Today, three-month options expire and the options expire with a notional value of over $10 billion.
June has been a tough month for the crypto market; “As BTC and ETH prices approached the Maxpain point, which at one point investors thought was impossible to reach, a more pessimistic atmosphere was created.”
What Does the Put/Call Ratio Indicate for Bitcoin and Ethereum?
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 0.5; For Ethereum it appears as 0.59. Accordingly, these rates indicate an upward trend for BTC and ETH. 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.
June 28 Options Data
107K BTC options are expiring with a Put Call Ratio of 0.5, a Maxpain point of $57,000 and a notional value of $6.6 billion.
1.04M ETH options are expiring with a Put Call Ratio of 0.59, Maxpain point of $3,100 and notional value of $3.6 billion.
Today is… pic.twitter.com/sYVyb3HJnC— Greeks.live (@GreeksLive) June 28, 2024
*This is not investment advice.