Ethereum

Bitcoin

Reversal

<p>After seeing strong volatility this week, crypto traders are keeping a close watch on the Bitcoin and Ethereum options expiry scheduled ahead this Friday, June 28. Ahead this week, a total of $6.6 billion in Bitcoin options and $3.5 billion in Ethereum options will expire. Earlier this week, both these assets moved closer to their max pain points. Thus, it will be interesting to see how traders react going into Friday’s expiry.</p> 
<h3 id="a-look-into-the-bitcoin-and-ethereum-options-data">A Look Into the Bitcoin and Ethereum Options Data</h3> 
<p>On June 28, Bitcoin options worth $6.6 billion are set to expire with a put/call ratio of 0.47, indicating a bullish signal. As per the data from Deribit, the total Open Interest is currently at $108,239.60 with 71,651.40 of call options and 36,588.20 of put options. Also, the max pain point for Bitcoin is currently at $57,000. Earlier this week, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> corrected all the way to $58,000 before bouncing back above $61,000 again while edging towards the max pain point.</p> 
<p>Also Read: <a href="https://coingape.com/markets/is-1000000-bitcoin-price-possible-in-5-years/" target="_blank" rel="noopener">When Is Bitcoin (BTC) Price Likely To Reach $100,000?</a></p> 
<figure id="attachment_204442" aria-describedby="caption-attachment-204442" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-204442" src="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry.jpg" alt="" width="1231" height="512" srcset="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry.jpg 1231w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry-300x125.jpg 300w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry-1224x509.jpg 1224w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry-768x319.jpg 768w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Options-Expiry-150x62.jpg 150w" sizes="(max-width: 1231px) 100vw, 1231px">
 <figcaption id="caption-attachment-204442" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://metrics.deribit.com/options/BTC" target="_blank">Deribit</a>
 </figcaption>
</figure> 
<p>Similarly, the Ethereum options with a notional value of $3.54 billion are set to expire on Friday, June 28. The put/call ratio for the ETH options expiry is currently 0.58. The total open interest is currently 1,049,020.00 – with 662,453.00 of call options and 662,453.00 of put options. The max pain point for Ethereum is $3,100 while the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">ETH price</a> is currently trading at $3,382 with 4.7% decline on the weekly chart.</p> 
<p>Also Read: <a href="https://coingape.com/eth-price-reversal-soon-as-ethereum-etf-coming-in-two-weeks/" target="_blank" rel="noopener">ETH Price Reversal Soon As Ethereum ETF Coming In Two Weeks</a></p> 
<figure id="attachment_204444" aria-describedby="caption-attachment-204444" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-204444" src="https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options.jpg" alt="" width="1231" height="510" srcset="https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options.jpg 1231w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options-300x124.jpg 300w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options-1224x507.jpg 1224w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options-768x318.jpg 768w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-Options-150x62.jpg 150w" sizes="(max-width: 1231px) 100vw, 1231px">
 <figcaption id="caption-attachment-204444" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://metrics.deribit.com/options/ETH" target="_blank">Deribit</a>
 </figcaption>
</figure> 
<p>The max paint point is the price where most options become worthless. As the expiry date approaches closer, the market moves in a direction gravitating towards these levels. As a result, investors/traders are keeping a close watch on whether BTC and ETH prices with their respective max pain prices.</p> 
<h3 id="key-btc-and-eth-developments">Key BTC and ETH Developments</h3> 
<p>Following the 15% correction from its all-time high levels, Bitcoin seems to be showing signs of bottom formation. Excess leverage seems to have flushed out as open interest declines and funding rates drop ahead of the Bitcoin options expiry, reports CryptoQuant. All eyes will be on the crucial US economic data and the macro developments going ahead.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Signs of a Local Bottom?</p> 
 <p>After a 15% correction, <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> shows potential signs of a local bottom. Open interest has declined, funding rates are near zero, suggesting a more balanced market. Crucial U.S. economic data incoming. Is the tide turning? – By Gustavo Faria</p> 
 <p>Full post… <a rel="nofollow" href="https://t.co/nRCDVawmFa">pic.twitter.com/nRCDVawmFa</a></p> 
 <p>— CryptoQuant.com (@cryptoquant_com) <a rel="nofollow" href="https://twitter.com/cryptoquant_com/status/1805859442241528053?ref_src=twsrc%5Etfw">June 26, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>On the other hand, Ethereum investors are keenly awaiting the launch of <a href="https://coingape.com/vaneck-declares-zero-fee-for-spot-ethereum-etf-gearing-up-for-july-2-launch/" target="_blank" rel="noopener">spot Ethereum ETFs</a>, expected to go live next week. Players like VanEck are already gearing up for the launch while announcing zero trading fees mostly up the end of 2025.</p> 
<p>The post <a href="https://coingape.com/6-6b-in-bitcoin-options-and-3-4b-in-ethereum-options-expiring-soon-will-prices-hit-max-pain-point/">$6.6B in Bitcoin Options and $3.4B in Ethereum Options Expiring Soon, Will Prices Hit Max Pain Point?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

$6.6B in Bitcoin Options and $3.4B in Ethereum Options Expiring Soon, Will Prices Hit Max Pain Point?

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Další články publikované 26. 6. 2024

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