While the leading cryptocurrency Bitcoin rose above $ 44,000 again, all eyes turned to Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 22,000 BTC and 255,000 ETH options will expire.
Accordingly, while the Put/Call Ratio of BTC options is 0.62, the maximum loss point is $43,500 and the notional value is $960 million.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.54, a maximum loss point of $2,300, and a notional value of $580 million.
Stating that there was a huge sales wave during the week and that such fluctuations will not occur again in the near future, Greeks.live said:
“There was a massive sell-off in the market this week as the Spot ETF failed to perform as expected and a large amount of high leverage accumulated in the previous period was liquidated, causing sharp fluctuations in the market.
Next week will be the deadline for ETFs to be approved, and whether they pass or not, things will always come to a head.
“We observe that the crypto derivatives market is focused on ETF plays, and with the current funding rates and leverage levels in the market, sharp fluctuations in prices like this week will not occur again anytime soon.”
Jan. 5 Options Data
22,000 BTC options are about to expire with a Put Call Ratio of 0.62, a Maxpain point of $43,500 and a notional value of $960 million.
255,000 ETH options are about to expire with a Put Call Ratio of 0.54, a Maxpain point of $2,300 and a notional value of… pic.twitter.com/6IycpcmoVu— Greeks.live (@GreeksLive) January 5, 2024
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 0.62; For Ethereum it appears as 0.54. Accordingly, although these rates indicate an upward trend for BTC and ETH, time will tell how these rates will affect the prices along with other data and signals.
*This is not investment advice.
