$4.26 Billion Bitcoin and Ethereum Options Expiry Today: What to Expect

Today is a big day for the crypto market, with nearly $4.26 billion worth of Bitcoin (BTC) and Ethereum (ETH) options set to expire. This large expiration could lead to significant market movements and sharp price swings.

With both Bitcoin and Ethereum at crucial levels, traders are on high alert. Will we see a rally, or will volatility take the lead? The next few hours could set the stage for what’s to come.

Bitcoin Options: Bullish, But Stay Cautious!

A large portion of the expirations comes from Bitcoin options. Over 217,000 Bitcoin contracts, worth around $3.36 billion, are set to settle today. According to Deribit, the put-to-call ratio is 0.60, meaning there are more long positions (calls) than short positions (puts), indicating a generally bullish sentiment.

However, Bitcoin’s maximum pain point is at $98,000, just below the current spot price of $99,758. While Bitcoin’s recent rise to $103,000 caught attention, a recent price dip has led to liquidations of many leveraged positions.

Despite this, strong buying activity in the spot market suggests optimism. Still, high funding rates for leveraged positions could lead to pullbacks, which traders will need to watch closely.

Ethereum Options: Support Levels Loom

Ethereum also has a big expiration today, with over 1.7 million contracts worth around $900 million set to expire. Interestingly, Ethereum traders appear more bullish than Bitcoin traders, with a put-to-call ratio of 0.46. 

The maximum pain point for Ethereum is at $3,700, making this level critical for both bulls and bears. How Ethereum behaves around this price will likely determine its next major move, and traders will be watching closely for any signs of a breakout or reversal.

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Christmas Crypto Rally Coming?

With Bitcoin and Ethereum both seeing large options expirations, traders are left wondering if a rally could take place before the end of the year, especially as Christmas approaches. Right now, Bitcoin is holding below $100,000, while Ethereum is just under $4,000, leaving the market uncertain about the near future.

The next few days will be important as traders adjust their positions and prepare for the end of the year. The crypto market’s volatility could offer both challenges and opportunities, making this an exciting time to watch.