Over $3.5 billion in cryptocurrency options contracts expired recently, intensifying market activity against a backdrop of geopolitical uncertainty. The expiry included 28,000 Bitcoin (BTC) options valued at $2.93 billion and 244,000 Ethereum (ETH) options worth $620 million.
Market dynamics revealed stark contrasts between the two assets. Bitcoin’s price declined 2.12% to $105,014, slipping below its 20-day moving average, while Ethereum experienced a sharper 7% drop to $2,549.25. Technical indicators showed Bitcoin’s Relative Strength Index (RSI) trending below 50, signaling waning bullish momentum.
Implied volatility metrics diverged significantly, with Ethereum exhibiting substantially higher volatility than Bitcoin. This disparity suggests increased near-term trading opportunities for ETH. Despite price corrections, Bitcoin maintained strong social sentiment, with positive mentions doubling negative ones on social platforms.
Post-expiry data indicated rising trading volumes for Ethereum, reflecting renewed market activity. The event highlighted Ethereum’s heightened sensitivity to market shifts compared to Bitcoin’s relatively stable investor confidence during periods of uncertainty.