Ethereum
BTC Prices Rise as 18,000 Bitcoin Options Set to Expire Today, What’s Next?
The price of Bitcoin (BTC) has seen a significant rise, marking a nearly 3% rise today after a period of sluggish trading. Meanwhile, the recent rally, after prolonged volatility in market sentiment, comes ahead of a major event: the expiration of 18,000 Bitcoin options. Notably, market participants are closely monitoring the implications of this expiration on the BTC price trajectory and the broader market. cryptocurrency walk.
Market analysis before options expire
The recent Bitcoin price surge has captured the attention of investors, following and leading up to today’s trading volatility. options expiration. Notably, as the market prepares for the expiration of 18,000 Bitcoin options, analysts from the Greeks. live to provide an overview of current options data. With a Put Call ratio of 0.64, Maxpain point at $62,000, and a notional value of $1.2 billion, anticipation is high regarding potential market movements post-expiration.
At the same time, recent weakness in crypto markets, compounded by declining volumes and outflows from US BTC ETFs, has raised concerns. Despite a slight increase in investor confidence due to a reduction in implied volatility (IV), uncertainties persist, particularly given historical market trends in May.
While Bitcoin is attracting attention, Ethereum (ETH) is also the center of attention as 280,000 ETH options are set to expire today. With a Put Call ratio of 0.74, a Maxpain point of $3,050, and a notional value of $800 million, market participants are closely monitoring the price dynamics of ETH alongside BTC.
Source: Grecs.live,
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Implications for cash outflows
Despite the impending options expiration, the prices of Bitcoin and Ethereum rose. Additionally, this surge in Bitcoin price comes despite reports of an outflow of $11.3 million from US Spot Bitcoin ETF on May 9. Notably, the ongoing Grayscale exodus continues to weigh on Bitcoin ETF flows.
However, as market participants move through these developments, the next few hours after options expire will likely bring clarity to the near-term price trajectory of BTC and ETH. Traders remain vigilant and ready to react to any significant market movements resulting from this event.
According to CoinGlass data, the Bitcoin Futures Open Interest (OI) climbed 1.84% to 480.25K BTC or $30.28 billion today. Simultaneously, Ethereum OI noted an increase of 0.58% to $10.76 billion at the same time.
Meanwhile, the Bitcoin Price climbed by 2.74% and is trading at $62,946.19, while its trading volume from yesterday increased by 8.08% to $26.04 billion. On the other hand, the Ethereum Price rose 1.80% to $3,034.26 before options expired.
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