The crypto market is tense! 😬 Today, there are $3.98 billion in Bitcoin (BTC) and Ethereum (ETH) options set to expire, and traders are on high alert to watch the price movements. 📉 With $3.4 billion in BTC contracts and $581.57 million in ETH, we can expect some significant price fluctuations. 💸
Data from Deribit shows that there are 38,566 BTC contracts set to expire, down from 48,794 last week. 📊 Meanwhile, ETH has 189,018 contracts, also down from 294,380. Although BTC and ETH prices have recently dropped by 2.46% and 5.43%, respectively, market sentiment is still optimistic. 🌈
For BTC, the maximum price at which most options will expire worthless is $79,500, while ETH is at $3,000. This suggests that more traders are expecting the price to go up than down. 📈 However, there are warnings from crypto influencers that the market could be very volatile, so it is advisable to be careful when trading. ⚠️
When these options expire, traders expect BTC and ETH to approach these maximum prices, which could trigger a slight correction. However, this is just the beginning! 🎉 There is still a large wave of $11.8 billion worth of crypto options for Bitcoin set to expire on December 27, which could be a pivotal moment as well. ⏳
Historically, Bitcoin bull runs often occur towards the end of the year, and there are predictions that BTC could reach $100,000 before 2025! 💰 So, let's wait and see how BTC and ETH react today, as there could be short-term turbulence, but usually the market stabilizes after that. 👀 #CryptoExplorerFiesta #BTC #ETH #Ethereum #bitcoin☀️