Crypto News – Maximum pain point of $29k and put call ratio set to 0.88. Volatility surged as Bitcoin hit $36,000. An enormous whale’s selling activity may have an effect on the market trend. Also expiring are 880k ETH options.
Next Bitcoin Options Scheduled to Expire on October 27
Greeks.live reports that with 87,000 Bitcoin options set to expire, there is a lot of activity in the options market. There are somewhat more put options than call options, as indicated by the put-call ratio of 0.88.
The $29,000 maximum pain point indicates that the market might slant in this direction. These options are worth an incredible $2.98 billion in notional value. With a fresh high of $36,000 on October 24th for the year, Bitcoin has been the market’s driving force. Rising full-term implied volatility (IV) indicates heightened volatility brought on by this price spike.
Notwithstanding the optimistic outlook for the market, a major whale has engaged in noteworthy selling activity over the latter part of the week, which could have an effect on the market’s ability to maintain its upward trajectory.
ETH Options Are About To Expire Too
Furthermore, with a put-call ratio of 0.47, a maximum pain point of $1,650, and a notional value of $1.57 billion, 880,000 Ethereum options are ready to expire. 14,000 BTC options worth $400 million and 200,000 ETH options worth $330 million expired on October 6.
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