2.6 Billion Dollar BTC and ETH Options Grab Attention in Volatility

Bitcoin and Ethereum Options Expiry

In a high volatility environment, $2.6 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are expiring. This situation occurs during a period when institutional investors are taking defensive positions to guard against downside risks.

Bitcoin Options

Data from derivative markets show that a significant portion of Bitcoin options expiring have a nominal value of $2.2 billion. Currently, Bitcoin is trading at around $65,300, which is well below the $80,000 maximum pain point. The maximum pain point refers to the price level at which investors are likely to experience the greatest losses.

Ethereum Options

Ethereum draws attention with $419 million worth of options. Currently trading at around $1,920, Ethereum is below the $2,400 maximum pain level. The total number of open positions is 219,034 contracts, with call and put options at 113,427 and 105,607 respectively. Ethereum's put/call ratio of 0.93 indicates a more balanced approach compared to Bitcoin.

Market Analysis

According to analysts, stress signals are observed in derivative markets, and there are signs of increasing volatility. Institutions tend to protect their portfolios as volatility rises. Analysts at Greeks.live state, “The $60,000 range provides a strong support level as a consolidation area for Bitcoin.” In the short term, a drop below this price level could create a buying opportunity for investors.

The market has entered panic mode, and Bitcoin's price is moving towards the psychological level of $60,000. This situation indicates that rapid risk-off liquidations could facilitate the market's recovery.