Ethereum

Bitcoin ETF

Bitcoin

Spot

<p>With the Ethereum price showing strong volatility surrounding the approval of the spot Ethereum ETF, investors are keenly watching the moves with Ethereum options expiring later today. As of press time, Ethereum has recovered 3% from yesterday’s lows and currently trading around $3,250.</p> 
<h2 id="ethereum-options-expiry">Ethereum Options Expiry</h2> 
<p>As per the data from derivatives platform Deribit, a total of 499,811.00 Ethereum options are set to expire today with a notional value of $1.622 billion and a max pain point of $3,300. Here, the max pain point refers to the price that can inflict the most discomfort to the option holders.</p> 
<p>On the other hand, the Deribit data shows that the put-call ratio is 0.46. This shows that there’s a strong dominance of the purchase (call) options over the sell (put) options. Thus, the current put-call ratio highlights that traders prefer purchasing options instead of selling them, highlighting broader market optimism.</p> 
<figure id="attachment_209581" aria-describedby="caption-attachment-209581" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209581" src="https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data.jpg" alt="" width="1211" height="516" srcset="https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data.jpg 1211w, https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data-300x128.jpg 300w, https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data-768x327.jpg 768w, https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data-1030x438.jpg 1030w, https://coingape.com/wp-content/uploads/2024/07/Ethereum-Options-Data-150x64.jpg 150w" sizes="(max-width: 1211px) 100vw, 1211px">
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  Courtesy: <a rel="nofollow" href="https://metrics.deribit.com/options/ETH" target="_blank">Deribit</a>
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<p>The <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">Ethereum price</a> has bounced back to $3,250 amid the broader market recovery earlier today. A day before the ETH price crashed all the way to its crucial support of $3,150 in what seems to be the sell-the-news event after the spot Ethereum ETF approval. The spot <a href="https://coingape.com/ethereum-foundation-moves-92500-eth-ether-etf-outflows-surge/" target="_blank" rel="noopener">Ether ETFs</a> have registered two consecutive days of outflows with Grayscale’s ETHE bleeding heavily.</p> 
<p>Also Read: <a href="https://coingape.com/markets/ethereum-price-struggles-post-etf-launch-as-meme-coins-outperform-eth-ytd/" target="_blank" rel="noopener">Ethereum Price Struggles Post ETF Launch As Meme Coins Outperform ETH YTD</a></p> 
<h2 id="buy-the-eth-dips">Buy the ETH Dips?</h2> 
<p>As said, the Ethereum price has seen strong selling pressure after the ETF trading went live earlier this week. Analysts say that Ethereum is showing exactly the same behavior as Bitcoin after the approval of <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener">Bitcoin ETF</a> in January.</p> 
<p>The <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> remained low for nearly two weeks until it resumed its journey to a new all-time high. As per market analysts, Ethereum is likely to follow a similar move and start the uptrend by the end of August.</p> 
<p>Looking at the on-chain data from CryptoQuant, over 160,930 have entered crypto exchange Coinbase in the last two days. Although there have been 47,811 ETH outflows in the same period, the net flow of 113,119 Ether continues to put selling pressure on the altcoin.</p> 
<p>“The Ethereum Netflow data may be a leading indicator of whether Grayscale’s Spot ETF, ETHE, will continue to exert selling pressure for a while longer,” noted a Cryptoquant analyst.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">After the approval of the Spot ETF, 160,930 <a rel="nofollow" href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> entered Coinbase in 2 days</p> 
 <p>“The <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Netflow data may be a leading indicator of whether Grayscale’s Spot ETF, ETHE, will continue to exert selling pressure.” – By <a rel="nofollow" href="https://twitter.com/burak_kesmeci?ref_src=twsrc%5Etfw">@burak_kesmeci</a></p> 
 <p>Read more <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a rel="nofollow" href="https://t.co/qTBHH0OVA9">https://t.co/qTBHH0OVA9</a> <a rel="nofollow" href="https://t.co/A0132i8Q1x">pic.twitter.com/A0132i8Q1x</a></p> 
 <p>— CryptoQuant.com (@cryptoquant_com) <a rel="nofollow" href="https://twitter.com/cryptoquant_com/status/1816740357306028253?ref_src=twsrc%5Etfw">July 26, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 id="bitcoin-options-expiry">Bitcoin Options Expiry</h2> 
<p>Data from Deribit shows that 265,717.50 Bitcoin options are set to expire today with a notional value of $18.6 billion and a put call ratio of 0.44 showing further optimism going ahead. In the last 24 hours, BTC has recovered by 5% moving back above $67,000 amid optimism surrounding the recent <a href="https://coingape.com/bitcoin-conference-donald-trump-plays-uno-reverse-on-kamala-harris/" target="_blank" rel="noopener">Bitcoin Conference</a>.</p> 
<p>Also Read: <a href="https://coingape.com/peter-schiff-calls-out-trump-for-endorsing-bitcoin/" target="_blank" rel="noopener">Peter Schiff Calls Out Trump For Endorsing Bitcoin</a></p> 
<p>The post <a href="https://coingape.com/ethereum-options-expiry-500k-contracts-set-to-expire-today-whats-ahead/">Ethereum Options Expiry: 500K Contracts Set to Expire Today, What’s Ahead?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Ethereum Options Expiry: 500K Contracts Set to Expire Today, What’s Ahead?

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Coingape News Media

Інші статті, опубліковані 26 лип. 2024 р.

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