Today is Critical for These Two Cryptocurrencies: Here’s What Will Happen!

The cryptocurrency market remains calm for now. However, it is possible for everything to change in an instant. Approximately $2.06 billion in Bitcoin and Ethereum options will expire today. Therefore, there may be a fluctuation in the crypto market. How will expiring options affect market dynamics? Also, what will be the important data points that underline important risks? Analysts are looking for answers to these questions.

Giant Bitcoin and Ethereum options expire

cryptokoin.com As you followed from , the market went on a rollercoaster ride during the week. The leading crypto Bitcoin fell to 67 thousand dollars shortly after gaining 70 thousand dollars. In the current situation, he sees progress at these levels. However, today is critical for Bticoin. Because a large portion of the option period expires today. Approximately 20,276 Bitcoin option contracts will expire today. The nominal value of these contracts is 1.35 billion dollars and the put/call ratio is 0.49. In the context of crypto options trading, this ratio shows that call options are more common than put options.

Expiring Bitcoin Options. Source: Deribit

The maximum pain point for these expiring Bitcoin options is $68,500. This represents the price level at which the greatest financial losses will be experienced by option holders. Additionally, it indicates critical thresholds for market participants. Meanwhile, 201,647 Ethereum contracts will expire at the same time. According to Deribit’s information, the nominal value of these contracts is $709.76 million and the maximum pain point is $3,600. The data also shows that the put/call ratio for these options is 0.36.

Expiring Ethereum Options. Source: Deribit

Cryptocurrency market showed poor performance

Adam, a macro researcher at the options trading tool Greeks.Live, shared his views on the Bitcoin and Ethereum contracts that expired today. The man emphasized the macroeconomic value of the week. In this context, the analyst made the following comment:

This week is a big week for macroeconomics. Economic data is relatively favorable for the venture capital market. The US stock market rose significantly, but the crypto market performed terribly. Mainstream coins fell overall, and altcoins fell even more. There have been fewer hot spots in the market lately and the market is relatively calm.

Potential strategic moves for traders

He also explained volatility and potential strategic moves for crypto traders. The analyst expressed his views on this issue as follows:

Currently, BTC’s key medium and short-term implied volatilities are below 50%, and ETH’s key medium and short-term [implied volatilities] IVs are below 60%. Both have been reduced to relatively low levels, providing buyers with a high cost-effectiveness ratio. New news regarding the approval of the spot ETH ETF will come at the end of this month. In this way, you can plan next month’s call options in advance.