The crypto market is set for potential volatility with $2.29 billion in Bitcoin and Ethereum options contracts expiring today. This includes Bitcoin options worth $1.94 billion and Ethereum options at $344.92 million.
Bitcoin's expiring options have a max pain price of $69,000 with a put-to-call ratio of 0.92, showing a bullish sentiment. Meanwhile, Ethereum's options have a max pain price of $2,550 and a put-to-call ratio of 0.69.
Recent price declines, coupled with factors like the upcoming US elections, have led to a slight increase in implied volatility. Bitcoin hit $73,500 this week but fell below $70,000, affecting trading opportunities.
Currently, Bitcoin trades at $69,268, slightly above its max pain point, while Ethereum is at $2,503, below its max pain point. This situation suggests a potential pullback to Bitcoin's max pain point, indicating short-term price volatility.
Following today's expiration, traders should anticipate market fluctuations affecting short-term crypto trends. The expiration coincides with the US nonfarm payrolls and upcoming elections, setting a volatile market environment.
