Ethereum

2024

Bitcoin

Spot

Around 18,800 Bitcoin options contracts will be expiring on Friday, Oct. 11, with a notional value of around $1.1 billion. 
Today’s options expiry is very similar to last week’s as implied volatility declines, and expiry <a href="https://cryptopotato.com/how-will-markets-react-to-1b-bitcoin-options-expiring-tomorrow/" data-wpel-link="internal">events</a> are now smaller. Therefore, it is unlikely to impact spot markets, which have been retreating this week. 
<h2 id="bitcoin-options-expiry">Bitcoin Options Expiry</h2> 
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.91, meaning that the amount of expiring long (call) contracts and shorts (puts) are more evenly matched.&nbsp;The max pain point, or level at which most losses will be made, is $62,000, around $1,500 higher than current spot prices. 
Additionally, open interest (OI), or the value or number of open options contracts yet to expire, is still high at the strike price of $70,000 with $790 million.&nbsp;OI at the $80,000 strike price has fallen to $723 million, and, <a href="https://www.deribit.com/statistics/BTC/metrics/options" target="_blank" rel="noopener" data-wpel-link="external">according</a> to Deribit, there is still $964 million at the $100,000 strike price. 
Crypto derivatives provider Greeks Live observed that markets continued to weaken, and the key $60,000 level was “now hotly contested.” 
<blockquote>
 “The first two weeks of the fourth quarter of this year were poor, the options market is also more depressed, and the current options position has fallen to a new low since 2023.”
</blockquote> 
<blockquote class="twitter-tweet"> 
 11 Oct Options Data 18,000 BTC options are expiring with a Put Call Ratio of 0.91, Maxpain point of $62,000 and notional value of $1.1 billion. 212,000 ETH options are about to expire with a Put Call Ratio of 0.4, Maxpain point of $2,450 and notional value of $510 million. With… <a href="https://t.co/tWutpxCora" data-wpel-link="external" target="_blank">pic.twitter.com/tWutpxCora</a> 
 — Greeks.live (@GreeksLive) <a href="https://twitter.com/GreeksLive/status/1844552660940358082?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">October 11, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
However, Greeks added that a sluggish market “also breeds new trading opportunities” and is “perfect for building some medium to long term calls at a low level.” 
In addition to today’s Bitcoin options, there are 212,000 Ethereum options that are about to expire with a put/call ratio of 0.4, a max pain point of $2,450, and a notional value of $510 million.&nbsp;This brings Friday’s crypto options expiry to $1.6 billion for the week. 
<h2 id="crypto-market-outlook">Crypto Market Outlook</h2> 
Spot markets have continued their retreat this week, with total capitalization falling 1.4% on the day to $2.21 trillion at the time of writing. However, they have been sideways now for more than half a year. 
Bitcoin <a href="https://cryptopotato.com/bitcoin-price-plummets-toward-59k-250m-liquidated-in-a-day/" data-wpel-link="internal">slumped</a> to $58,900 during late trading on Thursday but recovered to reclaim $60,500 during the Friday morning Asian trading session. The asset has now lost more than 8% since late September as “Uptober” has yet to materialize. 
Ethereum was equally bearish, dumping to $2,335 before a minor recovery to reclaim $2,400 at the time of writing. More FUD has been unleashed with <a href="https://cryptopotato.com/is-china-about-to-dump-1-3b-in-eth-from-plustoken-seizure/" data-wpel-link="internal">rumors</a> of the Chinese government selling a big stash of ETH seized from the PlusToken Ponzi. 
The post <a href="https://cryptopotato.com/will-markets-continue-to-dump-amid-1-6b-in-crypto-options-expiring-today/" rel="nofollow">Will Markets Continue to Dump Amid $1.6B in Crypto Options Expiring Today?&nbsp;</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Will Markets Continue to Dump Amid $1.6B in Crypto Options Expiring Today?

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