While the leading cryptocurrency Bitcoin continues its volatile movements after the spot Bitcoin ETFs were approved in the USA, eyes turned to Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 94,000 BTC and 932,000 ETH options will expire on January 26.
Accordingly, while the Put/Call Ratio of BTC options is 0.51, the maximum loss point is $41,000 and the notional value is $3.75 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.31, a maximum loss point of $2,300, and a notional value of $2.07 billion.
The fact that Bitcoin and Ethereum are currently trading below their maximum pain prices indicates that there may be movement in the price of BTC and ETH and investors are waiting for the price to recover.
Stating that Bitcoin and cryptocurrencies showed weakness during the week, Greeks.live said:
“BTC and cryptocurrencies have weakened this week.
The passage of the spot Bitcoin ETF contributed directly to this, as did the recent Grayscale sell-off that crashed the market.
As volatility continues to decline, most traders are trading predominantly long and little active buying.
More than 30% of options will expire today.”
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.
This rate is 0.51 for Bitcoin and 0.31 for Ethereum. Accordingly, although these ratios below 1 indicate an upward trend for BTC and ETH, time will tell how these ratios will affect the prices along with other data and signals. At this point, do not make your investment decisions based on a single data or report.
Jan. 26 Options Data
94,000 BTC options are about to expire with a Put Call Ratio of 0.51, a Maxpain point of $41,000 and a notional value of $3.75 billion.
932,000 ETH options are about to expire with a Put Call Ratio of 0.31, Maxpain point of $2,300 and notional value of $2.07… pic.twitter.com/EifV6kgUBz— Greeks.live (@GreeksLive) January 26, 2024
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/5-7-billion-options-expire-on-bitcoin-and-ethereum-does-the-data-give-a-bullish-signal-for-btc-and-eth-here-is-the-table/