🔔With $1.3 billion in Bitcoin options expiring this Friday, can market sentiment be reversed?

This Friday, we will see the expiry of a large number of Bitcoin options contracts with a notional value of up to $1.3 billion. This data is double the expiration volume last week and may have an impact on the spot market. greater impact.

The put/call ratio for this option expiration is 0.87, meaning there are slightly more calls than puts expiring. At the same time, Deribit data shows that the value of open contracts with execution prices of $70,000 and $75,000 has reached $702 million and $700 million respectively.

Additionally, open interest with strike prices of $90,000 and $100,000 is worth approximately $750 million and $928 million, respectively. This shows that the market has certain expectations for the future price of Bitcoin.

Despite the release of macro data such as the US presidential debate and CPI this week, the options market did not experience significant fluctuations. The Fed's interest rate cut expectations next week are gradually converging, with a 61% probability of a 25 basis point rate cut and a 39% probability of a 50 basis point rate cut.

Options data shows that the implied volatility of major options has declined, market volatility has not reached expectations, and market theme fluctuations in September continue.

In addition to Bitcoin options, there are approximately 126,700 Ethereum options expiring, with a notional value of approximately $299 million. These derivatives contracts have a put/call ratio of 0.73, similar to options expiring last week.

Currently, the Bitcoin Fear and Greed Index remains at the “fear” level, and market sentiment is gloomy. Bitcoin price has fluctuated between $57,300 and $58,400 over the past 24 hours, while Ethereum has been trading between $2,320 and $2,360.

💬 Finally, do you think this week’s options expiration will change market sentiment? Share your thoughts in the comments section!

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