Bitcoin enthusiasts, get ready for some action! Approximately 18,000 Bitcoin options are expiring today, April 5, with a total value of $1.23 billion.
While significant, this pales in comparison to last week's colossal $15 billion crypto options expiry. The market has seen some turbulence this week, losing 5% in total capitalization as $150 billion exited the space. However, stay optimistic! Today's Bitcoin options contracts show a put/call ratio of 0.64, indicating more call (long) contracts expiring than puts (shorts). The maximum pain point for today's contracts is $68,000, slightly above current spot prices. Bulls are displaying confidence with approximately $900 million in open interest at the $70,000 strike price and $840 million at a $100,000 strike price. Let's not overlook Ethereum! Around 270,000 Ethereum contracts are set to expire, with a put/call ratio of 0.38, a maximum pain point of $3,400, and a total value of $890 million. The crypto markets experienced a brief uptick yesterday, reaching a total market cap of $2.67 trillion before retracing most gains. Bitcoin peaked at $69,000 after a mid-week dip but retreated to $66,500 during Friday's Asian session. What's next? Only time will reveal, but one thing remains certain - the world of Bitcoin is always full of surprises!
$BTC
