Massive $2.6 Billion Bitcoin & Ethereum Options Expiry Today: What to Expect?

Today, January 3, a massive $2.6 billion worth of Bitcoin (BTC) and Ethereum (ETH) options contracts are set to expire, and the potential market impact is drawing attention. With Bitcoin’s expiry totaling $2.15 billion and Ethereum’s at $453 million, traders are on edge, anticipating how this expiry could move the markets.

Given the recent fluctuations in price, could this event be the tipping point for a big market shift?

Let’s dive into what’s at stake and how these expiries could shape the short-term future of both assets.

Bitcoin Options Expiry

Bitcoin is seeing 20,000 options contracts worth $2.15 billion expire today. While this is much lower than last week’s $88,537 contracts, it could still cause some price movements. With more long contracts (calls) than short contracts (puts), the market sentiment for Bitcoin remains mostly positive. 

Bitcoin’s open interest, which refers to the number of contracts that have not yet expired, is highest at the $120,000 level. This suggests that many traders are expecting Bitcoin to climb higher. 

Meanwhile, the key price to watch is $97,000, as this could show the next direction for Bitcoin.

Ethereum Options Expiry

Ethereum will see 1,323,745 options contracts worth $453 million expire today. With a put-to-call ratio of 0.33, more traders are betting on Ethereum’s price increasing. The maximum pain price for Ethereum is $3,400, which could push the price toward this level. Ethereum has been performing well recently, but it needs to break through $3,600 to maintain its upward momentum.

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Looking Ahead for Bitcoin and Ethereum

With such a large expiry, both Bitcoin and Ethereum could experience price movements, especially with recent price fluctuations. Bitcoin, near $97,000, could continue its rise if it breaks through this resistance. Ethereum, approaching $3,430, needs to break through $3,600 to keep its bullish momentum going.

Both assets are at crucial levels today, and their movements could impact the market in the coming days.

How Bitcoin and Ethereum respond to today’s expiry could offer valuable insights into the short-term direction of the crypto market. We’ll keep you updated.