Briefly

• the largest mass expiration in months will see almost $5 billion worth of Bitcoin options expire today, potentially causing market volatility.
• The put/call ratio is 0.56, indicating a bullish market sentiment because there are nearly twice as many long contracts as short contracts.
• On June 30, Ethereum options worth approximately $2.3 billion will also expire, with a put/call ratio of 0.58 and a maximum pain point of $1,700.

The largest mass expiration in months will occur today with the expiration of a large number of Bitcoin options. In light of multiple ETF filings, derivatives trading fever has increased recently, but will speculators get burned?

On June 30, around $4.8 billion in notional worth Bitcoin choices agreements will lapse. It is the biggest bunch expiry of BTC choices contracts for a long time and may instigate some market unpredictability.

Bitcoin Options Max Pain

The put/call proportion is 0.56, significance there are two times as many call (long) contracts as puts (shorts).

Divide the number of put (short) contracts by the number of call (long) contracts to get the ratio. Since more traders in derivatives are trading in long contracts than in shorts, values lower than 1 are considered bullish.

Moreover, the maximum problem area is $26,500. The price with the most open contracts is the maximum pain point. It is additionally the cost at which the most misfortunes will be made upon contract expiry.

Cinneamhain Adventures accomplice Adam Cochran remarked that there could be some market unpredictability ahead:

“The max pain point on the BTC option expiry tomorrow is $26.5k?! Given how often crypto trends at least towards pain before expiry, could be a choppy few days…”

According to Deribit, open interest is currently 380,928. This refers to the number of unsettled contracts that have yet to expire.

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Crypto Market Outlook

Crypto markets have been sideways since the large Bitcoin continue on June 21. The day’s overall market capitalization, which stands at $1.23 trillion, has increased by 2.4%.

In any case, the BTC cost has neglected to break opposition at current levels twice this year. At the time of writing, the asset was up 2% on the day, trading at $30,758.

Ethereum had gained 2.2% and was changing hands for $1,877 during the morning of June 30.