According to PANews, a significant number of Bitcoin and Ethereum options are set to expire today, with 21,000 BTC options and 164,000 ETH options reaching their expiration. The Put Call Ratio for Bitcoin stands at 0.83, with a maximum pain point of $98,000 and a nominal value of $2.1 billion. Meanwhile, Ethereum's Put Call Ratio is 0.68, with a maximum pain point of $3,700 and a nominal value of $640 million.
This week, the market is primarily experiencing adjustments. Unlike the previous week, Bitcoin's adjustment range is smaller, while altcoins are seeing stronger adjustments. As the Christmas season and annual settlements approach, market makers are beginning to adjust their positions. Recently, there has been a noticeable increase in the trading of large bullish options, with a daily average exceeding 30%. Historically, trading activity in Europe and the United States tends to decrease during the Christmas period. However, this year, the influence of U.S. stocks on the crypto market is expected to be more pronounced.
Over the past two weeks, data from the options market has shown that market makers are exercising caution. The volatile market conditions have led to a slight increase in the implied volatility (IV) of major terms. Options are particularly suitable for short-term speculation at this point in time, with most transactions this week being short-term PVP (profit versus profit). The cost-effectiveness of buying options remains high, making it an attractive strategy for traders.
