$1.79 Billion Day Has Come for Bitcoin and Ethereum: ETF Expected

A total of approximately $1.79 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are expiring today.

According to Deribit data, 20 thousand 679 Bitcoin contracts worth $1.31 billion expire today. While the put-call ratio of these options was 1.19, the maximum pain level was 62 thousand dollars. Last week, 23 thousand 832 contracts expired.

Max pain is the strike price with the most open option contracts. This price is the price that will cause the largest number of option holders to experience financial losses when the options expire. The put-call ratio shows the ratio between call options and put options in the market.

In addition to Bitcoin, 142 thousand 538 Ethereum contracts worth more than $480 million are expiring. Their put-call ratio is 0.37; The max pain level is 3 thousand 150 dollars.

Experts expect spot Ethereum ETFs to enter the market on July 23. This started a rally in the derivatives market for Ethereum, according to Deribit analysis.

In anticipation of the ETF, frequent traders purchased call options expiring in July and August with strike prices ranging from $3,600 to $4,000. However, it was stated that investment funds did not show any activity at this time.

According to CoinGecko data, Bitcoin is 63 thousand 777; Ethereum is trading at $3,397.