First Option Data of March Announced! While Bitcoin Now Gives a Serious Sell Signal, Interest May Shift to Ethereum!

The leading cryptocurrency, Bitcoin, failed to stay here while it pinned above $64,000 with the tremendous rise it experienced during the week.

While it remains a matter of curiosity whether the rise in BTC will continue or not, all eyes are on Bitcoin and Ethereum options that will expire today.

According to the news of Singapore-based crypto options data platform Greeks.live, 19,000 BTC and 110,000 ETH options will expire on March 1.

Accordingly, while the Put/Call Ratio of BTC options is 1.49, the maximum loss point is $55,000 and the notional value is $2 billion.

Looking at Ethereum, ETH options have a Put/Call Ratio of 0.88, a maximum loss point of $3,000, and a notional value of $790 million.

Stating that the cryptocurrency market looks quite impressive this week, with Bitcoin exceeding $64,000, Greeks.live said that spot BTC ETFs were effective in the recent rise:

“Crypto markets are looking pretty impressive this week, with Bitcoin surpassing $64,000 at one point and showing a clear uptrend.

Spot ETF inflows are driving the spot bull market, which has been on a dramatic rise this week. However, options volume has been seeing solid inflows as positions have increased moderately and investors have recently started to hedge their spot positions, creating a very healthy market structure.

“Bitcoin currently has over 50% market share, which could signal more interest in Ethereum later in the bull market.”

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 1.49; For Ethereum it appears as 0.88. Accordingly, the fact that this ratio is much higher than 1 for BTC indicates that sales in Bitcoin are much higher than purchases and the price is in a downward trend; It indicates a neutral situation for ETH.

However, time will tell how these rates, along with other data and signals, will affect prices. At this point, do not make your investment decisions based on a single data or report.

[March 1 Options Data].
19,000 BTC options are about to expire with a Put Call Ratio of 1.49, a Maxpain point of $55,000 and a notional value of $2 billion.
110,000 ETH options are about to expire with a Put Call Ratio of 0.88, Maxpain point of $3,000 and notional value of… pic.twitter.com/PxSicI6V4u

— Greeks.live (@GreeksLive) March 1, 2024

*This is not investment advice.