A significant cryptocurrency options expiry event concluded, potentially impacting near-term market volatility. Approximately 27,300 Bitcoin options contracts, valued near $3 billion, expired.
Simultaneously, between 220,000 Ethereum options contracts matured, carrying a combined value estimated between $584 million and $612 million.
Analysis of the expiring Bitcoin options revealed a put-to-call ratio of 1.05. This ratio indicates a balanced sentiment prevailing at expiry, reflecting equilibrium between bullish call options and bearish put options.
In contrast, Ethereum exhibited a bearish skew, with its put-to-call ratio reaching 1.24. This signal suggests traders held a greater concentration of protective put options expecting price declines.
Bitcoin demonstrated underlying market strength by maintaining trading levels comfortably above the maximum pain point before expiry.
Ethereum’s bearish stance, coupled with Bitcoin trading volume declining by 21% post-expiry, underscores differing dynamics. Analysts suggest Ethereum’s positioning could foreshadow short-term price corrections.
This major expiry event underscores the significant influence options markets exert on cryptocurrency trader sentiment and potential price volatility.