The post June 21st Crypto Market Watch: Bitcoin and Ethereum Options Expiry, What Next For BTC & ETH Price? appeared first on Coinpedia Fintech News

Today, the crypto market is abuzz as $1.96 billion worth of Bitcoin and Ethereum options are set to expire. This significant event could lead to short-term price movements for these leading cryptocurrencies.

Bitcoin Options Expiration: A Short Overview  

Today, June 21st, 2024, Bitcoin options with a notional value of $1.26 billion will expire. These 19,668.60 contracts have a put-to-call ratio of 0.45 and a maximum pain point of $66,500. The open interest for call options stands at 13,552.40, while put options have an open interest of 6,116.20. 

For 22nd June, 2024, Tomorrow, Bitcoin options worth $93,77 million will expire, These 1,457.20 contracts have a put-to-call ratio of 1.29 and a maximum pain point of $65,500. The open interest for call options is 637.70, and for put options, it is 819.50. 

Ethereum Options Expiration: An Simple Analysis

Today, Ethereum options totalling $693.37 million in notional value will expire. These 197,068 contracts have a put-to-call ratio of 0.30 and a maximum pain point of $3,500.

Tomorrow, 22nd June 2024, will see the expiration of Ethereum options worth $100.67 million. These 28,908.00 contracts have a put-to-call ratio of 0.31, with a maximum pain point of $3,525. The call open interest is 22,099, and the put open interest is 6,809. 

Bitcoin and Ethereum Market Analysis and Expectations 

Analysts have observed an increase in forward options volume, particularly in block calls. Despite high realised volatility, the implied volatility has remained stable, indicating that no major market movement is expected before the quarterly delivery. 

The current price of Bitcoin is $64,215, with a 30-day change of -7.8% and a 7-day change of -4.0%. This week, BTC has fluctuated between $66,748 and $64,215. The 24-hour trading volume of Bitcoin is $125.835 million, with a weekly peak of around $162.179 million. 

Ethereum is currently priced at $3,485, with a 30-day change of -7.2% and a 7-day change of -1.2%. This week, ETH has ranged between $3,467 and $3,624. The 24-hour trading volume of Ethereum is $11.693 million, with a weekly peak of around $28.152 million.

While options expirations can cause temporary market disruptions, they typically lead to stabilisation. As traders and investors navigate these expirations, the overall market is expected to adjust accordingly.