2.7 Billion Dollar Day Has Come for Bitcoin and Ethereum

Bitcoin (BTC) and Ethereum (ETH) will experience a critical moment today with a total price of $2.7 billion.

According to data in derivative markets, a total of 21 thousand Bitcoin options ($1.4 billion) and 350 thousand Ethereum options ($1.3 billion) will expire today.

The put-call ratio is 0.88 in Bitcoin options; In Ethereum options, it is at the level of 0.58. If this ratio is below 1, it indicates that more call options are purchased than put options and is considered bullish.

Derivatives analyst Greeks.live wrote that long-short positions in Bitcoin are much more balanced compared to Ethereum, but the bullish perception in Ethereum is still strong.

Ethereum gained more than 20% in one day after it was announced that the SEC would approve spot ETFs.