Impact of recent options expiry of Bitcoin and Ethereum on market.
The recent expiry of options contracts for Bitcoin and Ethereum had a significant impact on the cryptocurrency market, contributing to heightened volatility and sharp price movements. On August 9, 2024, Bitcoin and Ethereum saw options expirations totaling $2.5 billion. This event led to considerable market fluctuations as traders adjusted their positions, with the max pain points a key level where options holders experience the greatest lossesâplaying a critical role.
For Bitcoin, the price saw a recovery of nearly 10% after initially dropping due to a week of intense volatility. Ethereum also experienced a similar rebound, climbing by almost 12% after dipping earlier in the week. The large volume of contracts expiring, especially with a high put-to-call ratio, reflected the intense battle between bullish and bearish market sentiments.
The overall market remained volatile, with implied volatility exceeding 60% for major contracts. This situation is expected to extend short-term price movements, creating opportunities and risks for traders.#TONonBinance #MarketDownturn #XRPVictory #SahmRule #BlackRockETHOptions
