According to Odaily, a recent analysis by Greeks.live macro researcher Adam reveals significant developments in the cryptocurrency options market. A total of 98,000 Bitcoin (BTC) options are set to expire, with a put-call ratio of 0.84 and a maximum pain point at $80,000, representing a nominal value of $9.48 billion. Additionally, 412,000 Ethereum (ETH) options will expire, with a put-call ratio of 0.75 and a maximum pain point at $2,900, amounting to a nominal value of $1.47 billion.
Bitcoin's attempt to reach $100,000 has faced resistance, while Ethereum has taken the lead in the market this week, with altcoins experiencing a rebound. The potential risks associated with the end of Bitcoin's leading rally have been absorbed by Ethereum, maintaining the strength of the spot market's bullish momentum. Over 20% of current positions are set to expire this week, and as the next monthly cycle coincides with the year-end options expiry, 40% of positions will expire. This scenario is expected to exert pressure on implied volatility due to significant position shifts and the Christmas market dynamics.
