Ethereum

2024

Bitcoin

Bitcoin rose above $66,000 after the US data this week.
While the rise in BTC and altcoins is expected to continue, all eyes are on Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 18,000 BTC and 320,000 ETH options will expire on May 17.
Accordingly, while the Put/Call Ratio of BTC options is 0.63, the maximum loss point is $63,000 and the notional value is $1.2 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.28, a maximum loss point of $3,000, and a notional value of $930 million.
The Maximum Loss Point often acts as a magnet for the market price as option sellers try to push the price towards this point to minimize their payout.
Looking at BTC, the market price of BTC remains above the maximum loss point, which may be a sign that the pressure on the BTC price will continue and there will be a correction.
Stating that BTC ETFs experienced a significant amount of inflow due to the meme wave in the USA this week, Greeks.live said that BTC rose above $ 65,000 due to the impact of these events.
Greeks.live also said that while long and short positions in BTC are more balanced, the weakness of the ETH price has caused market confidence to weaken and sell calls to be abundant.
The put/call ratio is calculated by dividing the number of put options by the number of call options. A ratio below 1 means there are more purchases than puts, indicating an upward trend.
A ratio above 1 means there are more put options than call options, indicating a bearish trend. A ratio close to 1 means the market is balanced or neutral.
For Bitcoin, this rate is 0.63; For Ethereum it appears as 0.28. Accordingly, these rates indicate an upward trend for BTC and ETH. However, time will tell how these rates will affect the price. At this point, do not make your investment decisions based on a single data or report.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Options Data for May 17th 18,000 BTC options are about to expire with a Put Call Ratio of 0.63, a Maxpain point of $63,000 and a notional value of $1.2 billion. 320,000 ETH options are due to expire with a Put Call Ratio of 0.28, a Maxpain point of $3,000 and a notional value… <a href="https://t.co/pgc8h9v2ek" rel="noopener noreferrer nofollow">pic.twitter.com/pgc8h9v2ek</a>
 — Greeks.live (@GreeksLive) <a href="https://twitter.com/GreeksLive/status/1791310232389660735?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 17, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/weekly-options-data-announced-while-ethereum-now-gives-signals-what-does-the-data-point-to-in-bitcoin/" rel="noopener noreferrer nofollow">Weekly Options Data Announced! While Ethereum Now Gives Signals, What Does the Data Point to in Bitcoin?</a>

Weekly Options Data Announced! While Ethereum Now Gives Signals, What Does the Data Point to in Bitcoin?

Bitcoin Sistemi EN

Other articles published on May 17, 2024

FLOKI and BONK Investors Bet on DTX Exchange For Next 100x ROI

74 Million Dollar Giant Corporate Whale Started Profit Sales! Transferred These Four Altcoins to ...

Binance Pushes For SHIB, USTC, AGIX Liquidity and Trading Boost

We asked ChatGPT-4o to make a $1,000 crypto portfolio

sUSD Lost Its Stability to $1, This Altcoin Price Reacted!

Is It Too Late To Buy SLOTH? Slothana Price Skyrockets 95% In A Week And Solana Rival Sealana Mig...

Join our free newsletter for daily crypto updates!