$15B Bitcoin and Ethereum Options to Expire Today, How Will Price Move?
The event scheduled quarterly comes at a time when the crypto market is experiencing a notable rally. In particular, BTC is hovering around $70,000, showing robust momentum with a 24-hour trading volume of $30.8 billion
Bitcoin (BTC) and Ethereum (ETH), the world’s largest cryptocurrencies are about to make history with a $15 billion options expiry scheduled for today. Despite the recent crypto market uptick, BTC and ETH face liquidity uncertainty, leaving investors wondering how the price will move.
Details of Bitcoin and Ethereum Options Expiry
Data from the Professional Options Traders’ platform, GreeksLive indicated that a total of 135,000 Bitcoin options and 1.58 million Ethereum options will expire today.
According to Deribit data, the $15 billion expiry is among the largest in the exchange’s history as the expiry will wipe off 40% and 43% of the total notional open interest in Bitcoin and Ethereum, respectively, across maturities.
This puts BTC and ETH at notional values of $9.5 billion and $5.6 billion respectively. Notional open interest refers to the dollar value of the number of active contracts at a given time.
29 Mar Options Data
135,000 BTC options expired with a Put Call Ratio of 0.85, a Maxpain point of $51,000 and a notional value of $9.5 billion.
1.58 million ETH options expired with a Put Call Ratio of 0.63, Maxpain point of $2,600 and notional value of $5.6 billion.
