Will Markets Tank Further When $5.7B Bitcoin Options Expire Today?
Main Idea
A significant number of Bitcoin and Ethereum options contracts are expiring, with market participants divided on future price movements, while recent market declines were influenced by US tariff policies.
Key Points
1. Around 48,600 Bitcoin options contracts will expire on August 1, with open interest highest at a $140,000 strike price, totaling nearly $3 billion.
2. Ethereum options expiring include 350,000 contracts with a notional value of $1.35 billion, a max pain point of $3,500, and a put/call ratio of 0.96.
3. Market participants are divided on future price direction, with key levels being watched at $116k (support) and $118k (potential buying opportunity).
4. The crypto market saw a 6% decline in total capitalization, losing over $100 billion in 24 hours, partly due to US tariff policies.
5. Bitcoin dropped to a three-week low below $115,000, while Ethereum dipped to $3,650 before rebounding to $3,700.
Description
Around 48,600 Bitcoin options contracts will expire on Friday, August 1, and they have a notional value of roughly $5.7 billion. This one is around half of last week’s large end-of-quarter expiry event , so it is unlikely to be enough to influence spot markets, which have started to tank in the wake of Donald Trump’s trade tariff executive order. “Institutions are stepping in, long-term holders are taking profits, and Ethereum’s at the center of the stablecoin shift sparked by the GENIUS Act,” c...
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