96,000 BTC Options Expiry Sets Maximum Pain Price at $61,000, What’s Next?
Almost $6.3 billion worth of BTC options are set to expire on April 26, signaling potential downside price volatility that could cause Bitcoin to drop to $61,000. Bitcoin and the crypto market are expected to recover by investors after the crypto market ends, which likely means halting profit taking to hedge downside risks.
Will Bitcoin Price Recover After Options Expiration?
On 96 thousand Bitcoin options worth $ 6.2 billion Par value assets will expire on Deribit on April 26. The put-call ratio is 0.68, indicating a recent increase in put options as the monthly maturity approaches. The maximum pain point is $61,000 below the current price. The market can expect large swings with an expected pullback in price on the maturity day.
Besides, 990k Ethereum option notional value 3.1 billion dollars It will end with a put-call ratio of 0.51. The maximum pain point is $3,100, with ETH price currently trading above the maximum pain point and higher than the current price of $3,141.
Deribit explained realized volatility The BTC Volatility Index (DVOL) rose as crypto options saw a sharp increase as expiration approached.
options expert Greeks live He said low crypto market volume this week has pushed Bitcoin and Ethereum prices to trade near support levels. This weakness in the market has resulted in significant declines in implied volatility (IV) across all major maturities, with Dvol falling by as much as 15% since the halving. The lack of volatility in the market led to the sale of a large number of options.
Additionally, market sentiment remains weak due to the recent spot Bitcoin ETF outflow. The chances of BTC returning to its all-time high are extremely low as it may face further resistance.
Also Read: 5 Reasons to Buy and Hold pepe Coin Now
Arthur Hayes Predicts Crypto Market Will Recover
BitMEX co-founder Arthur Hayes reveals a major bullish signal for cryptocurrencies and exchanges. Since macro factors are the main reasons behind the recent decline in crypto market sentiment, Hayes explained that tax revenues from US citizens have added $200 billion to the US Treasury Department’s Treasury General Account (TGA) and the next steps could bring improvement. markets.
BTC price has increased by 1% in the last 24 hours and the price is currently trading at $64,302. The 24-hour low and high are $62,783 and $65,275 respectively. There has also been a slight increase in trading volume in the last 24 hours.
Markets are also watching the Fed’s preferred measure of inflation today, PCE, to provide further guidance on the direction of prices over the next few weeks. The annual PCE rate is estimated to rise from 2.5% to 2.6% for the second month in a row, while annual core PCE inflation is expected to decline from 2.8% to 2.6%, the lowest level in the last three years.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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