The cryptocurrency market anticipates the expiration of $3.98 billion in Bitcoin and Ethereum options contracts today, a significant event expected to influence short-term price movements.
Bitcoin options account for $3.4 billion, with Ethereum options valued at $581.57 million. Data from Deribit shows today's Bitcoin options involve 38,566 contracts, while Ethereum options cover 189,018 contracts.
The maximum pain price for Bitcoin is $79,500, and for Ethereum, it's $3,000. These values indicate areas where most options might expire worthless, causing maximum "financial pain" for traders.
The put-to-call ratios for both Bitcoin and Ethereum options suggest a bullish market sentiment. Ratios below 1 imply optimism, with traders betting more on price increases than declines.
Volatility is expected in the market due to these expirations, but stability is likely afterward as traders adjust to new price levels. Some predict Bitcoin’s potential climb to $100,000 by year’s end, despite future options expirations looming.
Further options totaling around $11.8 billion for Bitcoin are set to expire on December 27. These events could serve as catalysts for market trends, offering opportunities for both bulls and bears to contend.
The conclusion of these options expirations might establish new market standards for Bitcoin and Ethereum, influencing prices beyond December.
