Bullish expectation in Bitcoin and Ether: Which metric will be valuable?

BitcoinAnd etherWith the expiry of the $10 billion option on Friday, an upward movement is expected in the market.

We are very close to that critical period when discussions in crypto derivatives come to the fore. At 11:00 on Friday, $6.68 billion worth of Bitcoin (BTC) options and $3.5 billion worth of Ethereum (ETH) options will expire on the crypto exchange Deribit.

The approach of maturity, which represents more than 40 percent of open positions over $23 billion, may increase volatility. The fact that three-month maturity options are so large often triggers market activity.

What is the latest situation in Bitcoin and Ether options?

More than 25 percent of Deribit open positions will expire soon, equivalent to over $2.7 billion. “The size of the expiration is over $10 billion,” Deribit CEO Luuk Strijers said in an interview with Coindesk.

Having more than 25 percent of open positions expiring means that a significant number of derivative contracts are expected to be profitable for their holders at maturity.

Bitcoin has fallen nearly 9 percent this month, falling below $60,000, while Ethereum has also lost nearly 10 percent, shaking altcoins.

Strijers said, “The latest drop is due to miner activities, Germany selling BTC and, of course, the Mt. “It was caused by the recent transfer of Gox coins,” he said.

“Although the short-term bearish trend is evident, traders are expecting a positive change for Bitcoin on July 12 and for ETH on July 5,” Strijers said. ETH ETF processes are expected to start in the first week of July.” said.