🚀Crypto markets are holding steady thanks to Ethereum and SEC's approval of spot ETFs. A minor bump in the road: $1.4B in Bitcoin options contracts expiring May 24. But hey, it's small potatoes compared to the $4.3B expiry on May 31.📈
BTC options put/call ratio is at 0.88, with longs dominating at $70,000 and $100,000 strike prices. Bulls are expecting higher BTC prices, with the $60,000 strike price having the highest OI for put contracts.
Don't forget about Ethereum! 354,000 contracts expiring today, with a notional value of $1.5B. More calls expiring than puts, and $515M in OI at the $4,000 strike price.
Despite nearly $3B in BTC and ETH options expiring, the impact on spot markets is typically minimal. Total cap is at $2.68T, with BTC at $67,400 and ETH at $3,730.
Altcoins? A mixed bag. Gains for LINK, PEPE, and ETC, losses for SOL, DOGE, and TON.
What's your take on the market? Will we march higher post-expiry? Let's chat below! #Crypto #DeFi 🚀📉