Bitcoin Options Expiry Ends Today, BTC Price Maximum Pain Point $55K
Bitcoin (BTC), the world’s largest cryptocurrency, has experienced a spectacular price increase this week, reaching as high as $64,000. Since then, Bitcoin price has experienced some decline and is currently trading at $61,158 with a market cap of $1.2 trillion. Weekly Bitcoin options expire today and investors expect some volatility to persist.
Bitcoin Options Expiry Hints at Important Market Trend
As cryptocurrency options expiration approaches, significant numbers are emerging in the market landscape. A total of 19,000 Bitcoin (BTC) options worth $2 billion are scheduled to expire with a total notional value of $790 million. While the Put Call Ratio for BTC options is at 1.49, the Maxpain point for BTC is stated as $ 55,000.
This news comes amid an eventful week in crypto markets, marked by Bitcoin rising above $64,000 and a noticeable uptrend in major futures implied volatilities (IVs), reaching levels last seen in January 2024 and March 2023.
Driving the bullish sentiment in the spot market is the Bitcoin ETF, which has made notable gains this week. However, despite modest increases in Bitcoin options volume and positions, buyers are increasingly adopting spot hedged strategies, contributing to a solid market structure. While Bitcoin currently dominates over 50% of the total cryptocurrency market share, interest is expected to shift to Ethereum as the bull market progresses. Greeks.Live.
BTC Whales Are on a Selling Spree
According to crypto analyst Ali Martinez, there has been a significant increase in profit making among Bitcoin whales. In the last three days, they transferred more than 80,000 BTC, equivalent to approximately $4.8 billion. Investors and traders need to be careful about this development.
Kindness: Ali Martínez
On the other hand, outflows from Grayscale’s GBTC ETF continue to increase this week and are doubling every day. Outflows from GBTC reached a staggering $600 million on Thursday, February 29, according to data from Farside investors. Despite this, inflows remain strong, with BlackRock’s IBIT leading by a large margin. As of Thursday, total inflows into spot Bitcoin ETFs stood at $510 million.
✓ Share:
Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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.
#Bitcoin #Options #Expiry #Ends #Today #BTC #Price #Maximum #Pain #Point #55K
