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Bitcoin and Ethereum options worth early $2.6 billion in notional value expired today amid a broader market pullback.&nbsp; 
According to <a href="https://twitter.com/GreeksLive/status/1771077781117624389" target="_blank" rel="noopener">Greeks.live</a>, 25,000 BTC options expired, showcasing a Put Call Ratio of 0.56. The ratio indicates a higher interest in call options than puts, suggesting optimism among a segment of investors.&nbsp; 
The Max Pain point stood at $67,000 with a notional value of $1.7 billion. Similarly, 250,000 <a href="https://crypto.news/price/ethereum/">ETH</a> options expired, with a Put Call Ratio of 0.51 and a Maxpain point of $3,500, amounting to a notional value of $890 million. The Max Pain point represents the strike price at which most options would expire worthless, often considered a pressure point for the market. 
<figure class="wp-block-image size-large is-resized">
 <img loading="lazy" decoding="async" width="1024" height="494" src="https://crypto.news/app/uploads/2024/03/GJQh1b5bMAANAEQ-1024x494.jpeg" alt="Bitcoin, Ethereum options worth $2.6b expire; investors show caution - 11" class="wp-image-14260372" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 Bitcoin Open Interest | Source: <a href="https://twitter.com/GreeksLive/status/1771077781117624389/photo/1" target="_blank" rel="noopener">Greeks.live</a>
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</figure> 
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The crypto market recently experienced a shift, moving away from the potential rally anticipated last week. <a href="https://crypto.news/price/bitcoin/">Bitcoin’s</a> inability to hold above $70,000 led to a pullback, defying previous expectations of a sustained rally. 
This week, the market saw a surge in put demand alongside a sharp increase in implied volatility across all significant terms. However, contrary to expectations, many put positions closed at a profit, reflecting a strategic exit by investors. 
Bitcoin’s price is now just below $63,000, marking a 6% decrease today. The price decline aligns with a record outflow of $742 million from <a href="https://crypto.news/bitcoin-etf-record-outflows/">Bitcoin ETFs</a> over the week, underscoring investor caution and a shift in market sentiment. 
As prices align closer to the Maxpain points, the once prevalent FOMO (Fear of Missing Out) sentiment has diminished, signaling a more cautious approach by market participants. 
 Read more: <a href="https://crypto.news/ronins-ron-jumps-11-on-the-heels-of-coinbase-listing/"> Ronin’s RON jumps 11% on the heels of Coinbase listing </a>

Bitcoin, Ethereum options worth $2.6b expire; investors show caution

crypto.news

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