Approximately 21,000 Bitcoin options will expire this coming Friday, April 12. The total value of these contracts is approximately $1.5 billion. This is somewhat more than the value at the last expiration date.
This past week, the crypto market has shown stability with a total capitalization around $2.7 trillion, while Bitcoin leads price fluctuations.
Bitcoin Options Expiry
In simpler terms, for the batch of Bitcoin derivatives set to expire today, there are about 62 put contracts (betting on a decrease in price) for every 100 call contracts (betting on an increase in price). This implies that more call contracts will be ending than put contracts.
The price level causing the greatest number of investors to incur significant losses upon expiration is around $69,000, which is slightly below the current market prices.
At present, derivatives markets seem to be heavily influenced by the bulls. There is significant activity with open interest (OI) exceeding $70,000 as a strike price. Notably, $80,000 and $100,000 strike prices have garnered much attention, with Open Interest of approximately $880 million and $934 million respectively, according to Deribit.
This week, the cryptocurrency market has seen a notable increase in volatility, according to observations from Greek Live, a supplier of crypto derivatives tools. The prices of ETH contracts are currently fluctuating around $70,000 and $3,500, leaving these levels open to significant changes.
The article noted that implied volatility has noticeably decreased across all significant terms. Sell calls were the predominant trades during the month, while expectations for a reduction in volatility seemed excessively pessimistic.
Twelfth of April marks the expiration for 21,000 BTC options. The Put-Call Ratio is 0.62, with a Maxpain point at approximately $69,000 and a total worth of around $1.5 billion. Similarly, on this date, 230,000 ETH options will expire. Their Put-Call Ratio stands at 0.49, while the Maxpain point is at roughly $3,425 and their combined value amounts to approximately $800 million.
— Greeks.live (@GreeksLive) April 12, 2024
Today, besides the Bitcoin contracts set to expire, there are approximately 230,000 Ethereum options reaching their maturity. The combined worth of these options is estimated at around $800 million. Their put-call ratio amounts to 0.49, and the maximum pain point is situated at $3,425.
The Greeks at Live Concluded: The feeling among investors has slowed down, but Bitcoin’s price might be supported temporarily due to the upcoming halving event.
Given the current decrease in ETF investments, the absence of new market trends, and a less enthusiastic market outlook, consider selling for a medium-term horizon as the wiser choice. Meanwhile, short-term investments may still be attractive due to the upcoming halving event.
Crypto Martket Outlook
Today, the crypto market values remain unchanged, with a total worth of approximately $2.74 trillion as of this moment.
Bitcoin continued to hover above the $70,000 mark after a brief dip below this level on April 11. During the Asian trading session on a Friday morning, the digital currency was being traded for approximately $70,900. This value represents a difference of only 4.2% from its all-time record high.
Today, Ethereum dropped by 1.3%, leaving its price at $3,522 as I’m typing this. As for the alternative coins, there were minimal fluctuations with some experiencing small losses while others showed slight gains among the larger ones.
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2024-04-12 09:24