$2 Billion Bitcoin and Ethereum Options Set to Expire Today

Options data reveals that 18,000 Bitcoin (BTC) and 280,000 Ethereum (ETH) options worth $2 billion are set to expire today as weakness in crypto markets persists.

May 10 options data reveals major expirations looming in the cryptocurrency market, according to to the Greeks.live. For context, options are financial contracts granting transactional rights but not obligations to investors at a specific time and rate.

As noted in a recent Geeks Live article, approximately 18,000 Bitcoin (BTC) options and 280,000 Ethereum (ETH) options are set to expire, with metrics indicating the influence of historical data and market sentiment.

THE BTC The options market has a put call ratio of 0.64, signaling an increased uptrend. Additionally, the maximum sweet spot stood at $62,000, indicating a potential convergence in options value around this price level. The collective notional value of these expiring BTC options is $1.2 billion.

Meanwhile, the ETH options market shows a put call ratio of 0.74, suggesting a slightly higher preference for bullish positions. At $3,050, the maximum pain point implies a potential pull towards this price level at expiration. In addition, the cumulative notional value of expired securities ETH the options total $800 million.

Market shows weakness as volumes decline

This data reflects the drop and drop in volumes seen in crypto markets throughout the week. Geeks Live confirms that the notional value of BTC and ETH options expiring last week stood at $2.4 billion, while the figure two weeks ago, that was a whopping $9.3 billion.

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Recall that the Bitcoin ETF recently saw massive outflows in April. While the exits While the US BTC ETF’s experience has declined, market trading structure and block trading activities indicate continued price fragility, resulting in low investor confidence.

Along with market sentiment, implied volatility (IV) in key trends is trending lower, with IV levels below the average watermark. Meanwhile, Bitcoin is currently trading at $63,250, up 3% over the past 24 hours, while Ethereum has gained 1.8% to $3,025 over the same period.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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