Bitcoin Options Worth $2.39 Billion Expire Today, Sentiment Tilted Slightly Bullish

Bitcoin Options Worth $2.39 Billion Expire Today, Sentiment Tilted Slightly Bullish

Today, approximately $2.39 billion worth of Bitcoin (BTC) options are set to expire at 17:00 UTC. As per data from the crypto options exchange Deribit, this expiration represents a significant volume in the options market. The Put/Call ratio, which reflects the sentiment of options traders, stands at 0.57. This indicates a slightly bullish sentiment, as traders are purchasing more Call options (betting on price rise) than Put options (betting on price decline). The Max Pain price, which is the price at which options traders collectively lose the most money, is set at $66,000. This suggests that most options traders are positioned for a price above $66,000 at the time of expiration. In addition to BTC options, $580 million worth of Ethereum (ETH) options are also set to expire at the same time. The Put/Call ratio for ETH options is 0.55, indicating a similar slightly bullish sentiment among ETH options traders. The Max Pain price for ETH options is set at $3,300. The expiration of these options contracts is expected to have a notable impact on the price of BTC and ETH, as a large number of contracts will be settled and closed out. The actual price movements will depend on several factors, including the realized volatility in the underlying assets and the overall market sentiment.