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<p>The post <a href="https://coinpedia.org/news/69k-btc-92k-eth-options-expire-on-31-may-is-a-massive-sell-off-coming/" rel="noopener noreferrer nofollow">69K BTC &amp; 92K ETH Options Expire On 31 May – Is a Massive Sell-Off Coming?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>On May 31, the cryptocurrency market witnessed the expiration of significant BTC and ETH options, providing key insights into market sentiment and potential strategies. According to a tweet by Greek Live, 69,000 BTC options and 920,000 ETH options expired, with notable disparities in their respective metrics.</p>
<h2 class="wp-block-heading" id="h-btc-amp-eth-options-expiry">BTC &amp; ETH Options Expiry</h2>
<p>A total of 69,000 Bitcoin (BTC) options expired with a Put Call Ratio of 0.37. The Maxpain point was identified at $66,000, and the options had a notional value of $4.7 billion. This <a href="https://coinpedia.org/crypto-live-news/bitcoin-recover-over-steady-us-pce-inflation/" rel="noopener noreferrer nofollow">data suggests</a> a considerable level of market activity and interest in BTC options, although the Put Call Ratio indicates a stronger inclination towards call options, reflecting a more bullish sentiment among investors.</p>
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   <p lang="en" dir="ltr">May 31 Options Data<br>69,000 BTC options expired with a Put Call Ratio of 0.37, a Maxpain point of $66,000 and a notional value of $4.7 billion. <br>920,000 ETH options expired with a Put Call Ratio of 0.46, Maxpain point of $3,300 and notional value of $3.5 billion.<br>The crypto market… <a href="https://t.co/1yMZymIcYZ" rel="noopener noreferrer nofollow">pic.twitter.com/1yMZymIcYZ</a></p>— Greeks.live (@GreeksLive) <a href="https://twitter.com/GreeksLive/status/1796459645646917996?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 31, 2024</a>
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<p>In contrast, ETH options exhibited a slightly different sentiment. The Put Call Ratio for 920,000 ETH options was 0.46, suggesting a more balanced sentiment between calls and puts.&nbsp;</p>
<p>The Maxpain point for ETH was at $3,300, and the notional value of ETH options amounted to $3.5 billion. Despite the higher Put Call Ratio compared to BTC, the sentiment remained positive overall.</p>
<h2 class="wp-block-heading" id="h-post-spot-eth-reaction-nbsp">Post-Spot ETH Reaction&nbsp;</h2>
<p>The <a href="https://coinpedia.org/news/ethereum-etf-approval-rumors-spark-massive-market-rally-santiment-report/" rel="noopener noreferrer nofollow">spot Ether ETF approval</a> by the Securities and Exchange Commission (SEC) in May marked a significant event for the cryptocurrency market. Anticipation of the approval led to a 20% increase in Ether prices during May. However, the SEC only approved the 19b-4 filing, postponing the actual listing for trading.</p>
<p>Since the Ether ETF approval, the cryptocurrency market has exhibited a bearish sideways movement, with Ether remaining below $4,000 and <a href="https://coinpedia.org/news/cryptoquant-ceo-suggests-bitcoin-mirroring-mid-2020-trends-is-the-next-bull-run-ahead/" rel="noopener noreferrer nofollow">Bitcoin failing to break</a> the $70,000 barrier. However, the market is currently experiencing bearish momentum, correcting from the bullish surge seen in the past two weeks.</p>
<h2 class="wp-block-heading" id="h-what-to-expect-now">What To Expect Now?</h2>
<p>Predicting the exact impact of options expiry on Bitcoin’s price is extremely difficult. Typically, spot markets rarely react significantly to options expiry events, but today’s is a notable exception. The total market capitalization has remained relatively flat at $2.68 trillion, with minimal movement in crypto markets over the past 12 days.</p>
<p>Currently, Bitcoin has dropped by 1.8% and is <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">trading at $68,489</a>, while Ethereum has slightly fallen to <a href="https://markets.coinpedia.org/ethereum/" rel="noopener noreferrer nofollow">$3,751</a>. Meanwhile, most altcoins remain in the red, extending their declines from the past few days. Meme coins, in particular, have experienced significant losses.</p>

69K BTC & 92K ETH Options Expire On 31 May – Is a Massive Sell-Off Coming?

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