Weekly Options Data Announced: Has the Expected Bullish Signal Arrived for Bitcoin and Ethereum? How Should Data Be Interpreted for BTC and ETH?

While the leading cryptocurrency Bitcoin started April with a decline, there were also significant retreats in altcoins.

At this point, while investors focused on the Bitcoin Halving, which is expected to take place on April 16, their eyes turned to Bitcoin and Ethereum options that will expire today.

According to the news of Singapore-based crypto options data platform Greeks.live, which announced the first option data of April, 18,000 BTC and 270,000 ETH options will expire on April 5.

Accordingly, while the Put/Call Ratio of BTC options is 0.64, the maximum loss point is $68,000 and the notional value is $1.2 billion.

Looking at Ethereum, ETH options have a Put/Call Ratio of 0.38, a maximum loss point of $3,400, and a notional value of $890 million.

Stating that the second quarter is the first option maturity day and the cryptocurrency market is weak this week, Greeks.live said:

“The cryptocurrency market was weaker this week, with the scramble at $70,000 ending in a victory for short sellers and selling being the most dominant trade of the week.

While Bitcoin emerged from the upcoming halving with an emotional boost, other cryptocurrencies fell into a short-term bear market. Additionally, ETF inflows have slowed recently as the market digests the premium from ETFs.”

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 0.64; For Ethereum it appears as 0.38. Accordingly, although these rates indicate an upward trend for BTC and ETH, they alone will not be sufficient data for an increase or decrease.

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.

5 April Options Data
18,000 BTC options to expire with a Put Call Ratio of 0.64, Maxpain point of $68,000 and notional value of $1.2 billion.
270,000 ETH options are due to expire with a Put Call Ratio of 0.38, Maxpain point of $3,400 and notional value of $890 million.
Today is… pic.twitter.com/QpoQH0i6Bw

— Greeks.live (@GreeksLive) April 5, 2024

*This is not investment advice.