news 
Will Crypto Markets React to $3B Bitcoin Options Expiring Today?
As another week comes to a close in the crypto market, investors and traders are eagerly anticipating the expiration of approximately 35,000 Bitcoin options contracts with a staggering notional value of around $2.9 billion. The significance of this event lies not only in its sheer magnitude but also in the potential impact it may have on the broader market.
The data suggests that markets have already started to feel the effects, as the total capitalization has taken a hit, plummeting by 3.7% and currently sitting at $2.76 trillion. Bitcoin’s price, which had briefly recovered to $82,000 during the morning Asian session, has since retreated to around $80,000.
The options expiration will likely have little to no effect on spot markets, as the market is already digesting slightly lower-than-expected inflation data from the US this week. However, it’s essential to consider the psychological impact these expiring contracts could have on traders and investors.
This week’s event marks a slight increase in activity compared to last Friday’s $2.7 billion options expiry, but the total notional value remains an astronomical figure that cannot be ignored. The put-to-call ratio has been reported as 0.73, indicating that there are more long positions (call) than shorts (put).
Source: https://cryptopotato.com/will-crypto-markets-react-to-3b-bitcoin-options-expiring-today/
