21,000 BTC options and 200,000 ETH options are about to expire

Adam, a macro analyst at Greeks.live, posted on the X platform that 21,000 BTC options are about to expire with a Put Call Ratio of 0.9 and a maximum pain point of $46,000 USD, with a nominal value of $1.1 billion USD. Also, 200 thousand ETH options are about to expire with a Put Call Ratio of 0.62 and a maximum pain point of $2,400 USD; their nominal value is $570 million USD.

 

The cryptocurrency market performed strongly this week as Bitcoin's price briefly broke through the significant level of $52,000 USD setting new historical highs in various fiat currency valuations. The implied volatility (IV) across major terms showed an evident upward trend reflecting increased expectations from market participants for future price fluctuations. However, due to the Chinese community celebrating Lunar New Year holiday period there was relative calmness in derivatives markets compared to spot markets which were driving trends; growth in option trading volume and open interest along with block trade volumes remained limited.

 

With the end of Lunar New Year holidays it is expected that Chinese investors will return to the market potentially boosting its activity levels. Currently some investors have started betting on Bitcoin reaching new historic highs before its next halving event.