Over $3.3 billion in Bitcoin and Ethereum options contracts are expiring today, which could trigger short-term price volatility in the market. This event follows Bitcoin’s recent all-time high achievement.
Deribit data shows the expiring options have a notional value of $2.8 billion, with total open interest at 25,438 contracts. Among these, 11,435 are call contracts and 14,004 are put contracts, resulting in a put-to-call ratio of 1.22. This indicates a bearish market sentiment, with traders either expecting downward price movement or hedging against it. Ethereum’s market sentiment is similarly bearish, with a put-to-call ratio of 1.27. The notional value of its 201,167 expiring contracts exceeds $542 million, comprising 112,565 put contracts and 88,602 call contracts. This is lower than last week’s total of 219,986 contracts. The max pain price for Bitcoin is $104,000, while Ethereum’s is $2,450. Both are below their current trading prices. According to Max Pain theory, prices may gravitate toward these levels at expiration, potentially rendering many options worthless. At the time of writing, Bitcoin was trading at $110,787 after reaching an all-time high of $111,917 yesterday, now down about 1.0% from that peak. Analysts at Greek.live suggest a short-term correction of 15-20% is possible, noting that traders are securing downside protection via puts and anticipating a brief pullback to the $100,000–$103,000 range. Despite this, overall market sentiment remains bullish long-term, with expectations for Bitcoin to resume its upward trend. Negative funding rates indicate ongoing market skepticism, with many participants still shorting. This could lead to a short squeeze, potentially driving prices higher. Key levels to watch include $110,000 as immediate support, $120,000 as a near-term target, and $150,000-200,000 as longer-term targets. Prove Your Crypto Knowledge with BTCC Quiz– Win Your Share of 300 USDT!Despite trading at $2,693, a 2.6% increase over the past day, the market may still see price movements toward the max pain level as expiration approaches.
“Ethereum’s underperformance relative to Bitcoin is notable, with ETH failing to follow BTC’s new all-time high despite expectations for ETH to reach $3,000 by June,” Greek.live added. Ethereum Price Performance. Source: This Site Thus, while short-term price swings may follow the options expirations, it’s worth noting that markets usually find their footing again pretty quickly as traders adjust to the new price levels. Disclaimer In adherence to the Trust Project guidelines, This Site is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
