LIVEBitcoin (BTC) and Ethereum (ETH) are approaching significant options expirations on May 31, which is expected to impact market volatility. Bitcoin is currently trading around $68,500 with a put/call ratio of 0.58, indicating a bullish outlook among traders. The total open interest (OI) for Bitcoin is about 68,000 BTC, valued around $4.7 billion, with a max pain price of $65,000 suggesting a potential drop towards this level as expiration approaches. Bitcoin's current price is $67,904, having decreased by over 2% in the past 24 hours but increased by 7% over the last week. Its 24-hour trading volume has surged by 51% to $32.9 billion.
In contrast, Ethereum is trading below $4,000 with a put/call ratio of 0.85, reflecting a more balanced sentiment. The total open interest for Ethereum stands at 897,238 ETH, worth $3.5 billion, with a max pain price of $3,300 possibly influencing its price movements as the expiration date nears. Ethereum has risen by 15% in the last 30 days, currently priced at $3,840, with a 24-hour trading volume up by 4% to $19 billion.
Ethereum's recent surge is attributed to a surprising move by the US Securities and Exchange Commission (SEC) towards allowing exchange-traded funds (ETFs) for the digital asset, which resulted in a 26% jump, the largest weekly gain since the 2021 crypto bull market. Speculators are drawing parallels to the record-setting debut of US spot-Bitcoin ETFs, which accumulated $59 billion in assets. However, Ethereum's investor interest is harder to predict compared to Bitcoin due to its lesser-known status.
