Bitcoin (BTC) Options Worth 3.6 Trillion Won Expire Tomorrow... "Increase in Bets on Surpassing 95K"
Summary
- It was announced that Bitcoin options worth approximately 3.6342 trillion won are set to expire on the 2nd.
- The max pain price for Bitcoin options is $90,000, with an increase in call option buying above the $95,000 range.
- It is observed that on option expiry dates, prices tend to converge around the max pain price, suggesting that support at $90,000 could influence short-term trends.
Bitcoin (BTC) options worth $2.54 billion (approximately 3.6342 trillion won) are set to expire on the 2nd.
On the 1st, the cryptocurrency derivatives exchange Deribit announced via X (formerly Twitter) that "options worth approximately $2.85 billion will expire at 5 PM (KST) on the 2nd, with BTC options accounting for the majority." Ethereum (ETH) options are valued at around $316 million.
The put/call ratio for BTC options is 0.95, with the max pain price at $90,000. Currently, there is a noticeable increase in call option buy positions above the $95,000 range, reflecting bullish expectations. The max pain price for ETH options is $1,800, with a put/call ratio of 0.88.
It is generally observed that on option expiry dates, prices tend to converge around the max pain price, suggesting that the support around $90,000 could influence short-term trends.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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