While the SEC's spot Ethereum ETF decision is still on the cryptocurrency market agenda, all eyes are on Bitcoin and Ethereum May options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 69,000 BTC and 920,000 ETH options will expire on May 31.
Accordingly, while the Put/Call Ratio of BTC options is 0.37, the maximum loss point is $66,000 and the notional value is $4.7 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.46, a maximum loss point of $3,300, and a notional value of $3.5 billion.
Greeks stated that although the cryptocurrency market moved sideways this week, May was the best May in recent years. lived said:
“The crypto market was a bit flat this week, but this May was arguably the best-performing May in recent years.
Because ETH saw a 20% gain in one day.
“The bull market in Bitcoin and altcoins is not over yet, the market atmosphere is more optimistic.”
Greeks.live also said last week that Ethereum took over the BTC rally, inspired by the positive developments on the ETF front, and that ETH's upward trend is still strong.
What Does the Put/Call Ratio Indicate for Bitcoin and Ethereum?
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 0.37; For Ethereum it appears as 0.46. 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.
May 31 Options Data
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.
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.
The crypto market… pic.twitter.com/1yMZymIcYZ— Greeks.live (@GreeksLive) May 31, 2024
*This is not investment advice.
