Crypto Events
By Sakamoto Nashi
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Bitcoin Options Show Mixed Sentiment Near Key Price Levels. Deribit’s data reveals that 26,543 Bitcoin contracts are expiring, a slight increase from the…
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Ethereum Follows Similar Pattern With Strong Bearish Bias. Ethereum is also facing a wave of expiring options, with 219,986 contracts involved.
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Macroeconomic Data Adds Uncertainty to the Mix. The timing of this options expiry coincides with a significant macroeconomic development. U.S.
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Short-Term Volatility Expected but Often Short-Lived. As is often the case during major options expirations, the market could see increased volatility…
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The cryptocurrency market is bracing for increased volatility today as over $3.33 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are set to expire.
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According to data from Deribit, the majority of the expiring contracts are for Bitcoin, totaling approximately $2.76 billion. Meanwhile, Ethereum accounts for $569.
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The expiration of these contracts has the potential to influence short-term price action, particularly given the current macroeconomic backdrop and prevailing market sentiment.
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The put-to-call ratio for Bitcoin stands at 1.02, indicating a slight bias toward puts, or bearish bets.
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At the time of writing, Bitcoin was trading at $103,912 — above the max pain level, but below the recent local high of $105,000. According to analysts from Greeks.
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“Traders are becoming defensive after a rapid move,” noted the analysts, highlighting a preference for reducing exposure amid high prices.
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Ethereum is also facing a wave of expiring options, with 219,986 contracts involved. This marks a significant rise from last week’s total of 164,591 contracts.
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However, Ethereum’s put-to-call ratio is more bearish than Bitcoin’s, standing at 1.36. This indicates that traders are leaning heavily toward protective or speculative bearish…
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The market reaction may be influenced by these imbalances, particularly if prices drift closer to the strike zone near expiration.
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The timing of this options expiry coincides with a significant macroeconomic development. U.S. CPI data for April came in at 2.3%, the lowest since February 2021.
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These lower inflation readings could prompt the Federal Reserve to reconsider its current stance on interest rates.
The Currency Analytics
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