Ethereum

Cryptocurrency

Solana

Bitcoin

Chainlink

<p style="text-align: justify">Another Friday has arrived, which means <a href="https://en.coin-turk.com/now-bitcoin-btc-has-fallen-below-27000-why-did-cryptocurrencies-fall/" data-wpel-link="internal">Bitcoin</a> options are about to expire. This time, it’s notable that altcoins in the crypto markets are closing the week strongly with significant gains within a robust structure.</p> 
<p style="text-align: justify">Approximately 25,000 Bitcoin option contracts are expiring today, a lower level than last week’s expiration event. Additionally, unlike this week, there is a massive year-end expiration happening next Friday.</p> 
<h2 style="text-align: justify" id="expiration-of-bitcoin-options">Expiration of Bitcoin Options</h2> 
<p style="text-align: justify">The value of Bitcoin option contracts expiring today stands at $1.11 billion. Moreover, the put/call ratio is at 0.70, indicating that a larger portion of long positions (calls) are expiring compared to short positions (puts).</p> 
<p style="text-align: justify">According to data shared by Deribit, there is an increasing concentration in the $40,000 and $45,000 regions. Approximately 22,400 calls are at the $50,000 level.</p> 
<p style="text-align: justify">Data provided by Greeks Live on December 21st reflected mixed signals from the option market, with BTC remaining at the $44,000 level.</p> 
<blockquote> 
 <p>Both BTC and ETH block trades were dominated by put purchases, with over half of the block trades totaling $100 million, respectively $13 million for BTC and $88 million for ETH. Large whales are adding to their short positions during a period of high market sentiment, and traders need to be cautious of the downside risk.</p> 
</blockquote> 
<p style="text-align: justify">Another piece of data from Deribit showed that the total open interest nominal value was $16.4 billion.</p> 
<p style="text-align: justify">In addition to Bitcoin options, approximately 217,000 Ethereum options are also expiring today, with a nominal value of about $491 million as of writing time.</p> 
<h2 style="text-align: justify" id="img-loading-lazy-loading-lazy-decoding-async-class-aligncenter-size-full-wp-image-292460-src-https-coin-turk-com-wp-content-uploads-2023-12-derbit-16-4-png-alt-width-743-height-351"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-292460" src="https://coin-turk.com/wp-content/uploads/2023/12/derbit-16-4.png" alt="" width="743" height="351"></h2> 
<h2 style="text-align: justify" id="cryptocurrency-market-outlook">Cryptocurrency Market Outlook</h2> 
<p style="text-align: justify">The Bitcoin options expiring today are unlikely to affect spot markets. Bitcoin’s price gained 2.5% in the morning hours, and the total market capitalization reached its highest level since early May 2022, at $1.74 trillion.</p> 
<p style="text-align: justify">Currently, the BTC price is trading at $43,376 as of writing time. More importantly, compared to last Friday, the crypto asset has increased by 3.6%. Ethereum was trading at $2,290, up 2.31% at the time of writing.</p> 
<p style="text-align: justify">Contrary to Bitcoin and ETH, Solana, Cardano, <a href="https://en.coin-turk.com/avalanche-drops-the-bomb-popular-altcoin-focuses-on-long-term-goals/" data-wpel-link="internal">Avalanche</a>, Polkadot, and Chainlink were the volume-heavy altcoins that reflected the most daily gains. During this period, Solana surpassed BNB, rising to the 4th position in the crypto market.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/expiration-of-bitcoin-options-and-cryptocurrency-market-overview/" data-wpel-link="internal">https://en.coin-turk.com/expiration-of-bitcoin-options-and-cryptocurrency-market-overview/</a>

Expiration of Bitcoin Options and Cryptocurrency Market Overview

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