📊 Bitcoin and Ethereum Options Expiry Insight
This week, crypto traders are closely monitoring the upcoming options expiry for Bitcoin and Ethereum scheduled for Friday, June 28. A substantial $6.6 billion in Bitcoin options and $3.5 billion in Ethereum options are set to expire, heightening market volatility.
🔍 Bitcoin Options Data
Bitcoin options expiring on June 28 amount to $6.6 billion, with a bullish put/call ratio of 0.47. Deribit data shows current open interest at $108,239.60, consisting of 71,651.40 call options and 36,588.20 put options. Bitcoin's max pain point stands at $57,000, with recent price movements approaching this level after fluctuating between $58,000 and above $61,000 earlier this week.
🌀 Ethereum Options Overview
Ethereum options expiring the same day total $3.54 billion, with a put/call ratio of 0.58. Open interest is at 1,049,020.00, comprising 662,453.00 call options and 662,453.00 put options. Ethereum's max pain point is at $3,100, contrasting with its current trading price of $3,382 and a 4.7% weekly decline.
📉 Max Pain Dynamics
Max pain points signify the level where most options expire worthless, influencing market movements as the expiry nears. Traders are closely observing whether Bitcoin and Ethereum prices align with these critical levels.
📈 BTC and ETH Developments
Bitcoin is showing signs of bottom formation post a 15% correction from its peak, with reduced leverage and declining open interest and funding rates ahead of the expiry. Meanwhile, Ethereum anticipates the launch of spot ETFs next week, enhancing investor sentiment with firms like VanEck preparing for this milestone and offering zero trading fees through late 2025.
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