23,000 BTC Options and 147,000 ETH Options Set to Expire Today

In Brief:

23,000 BTC options with a notional value of $2.3 billion are expiring, with a Put-Call Ratio of 1.11 and a maximum pain point at $97,000.

147,000 ETH options worth $570 million will also expire, with a Put-Call Ratio of 0.62 and a maximum pain point at $3,500.

Analysts suggest strong bullish sentiment, with market makers cautious amid high short-term implied volatility (IV).

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The cryptocurrency options market is witnessing significant activity today, with the expiration of 23,000 Bitcoin (BTC) options and 147,000 Ethereum (ETH) options. Collectively, these contracts represent a staggering notional value of $2.87 billion.

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BTC options show a maximum pain point at $97,000, indicating this level as where most options would expire worthless. Meanwhile, ETH options have a maximum pain point at $3,500. Analysts from Greeks.live noted that rising short-term IV has made options appealing for speculative plays, especially with the market nearing key psychological and technical levels.

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Market participants remain bullish, with the overall sentiment suggesting that the crypto market could sustain its upward momentum. The surge in IV and cautious positioning by market makers reflect growing interest and concern over potential volatility spikes.

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With the options expiration potentially creating short-term price swings, both BTC and ETH could see significant movement. Institutional players appear wary of replicating the 2020 year-end market scenario but are adjusting to the bullish outlook.

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