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Bitcoin Volatility Today: How Will Crypto Markets React When $3B BTC Options Expire
The end of another week has brought with it the impending expiration of a large batch of Bitcoin options contracts, which may have significant implications for the crypto market’s volatility. As the market awaits these expirations, traders are left wondering how this event will impact price action in the short term.
It’s worth noting that there is less drama surrounding this week’s options expiry compared to last week’s colossal $17 billion contract expiration. This time around, the notional value of Bitcoin options set to expire stands at roughly $3 billion, a stark contrast to the staggering figure seen just days prior.
The put-call ratio for these contracts sits at 1, which means that neither buy nor sell orders dominate this market. Meanwhile, the max pain point has been determined to be around $106,000. Any significant movement above or below this level will undoubtedly have a profound impact on the options expiring today.
Deribit recently noted in their weekly market update that they are witnessing “strong bearish sentiment” among traders due to stagnant market conditions and elevated volatility. However, yesterday’s price action has seen Bitcoin surge past $109,500, potentially shifting the mood of the market.
As we approach the expiration time, it is crucial for investors to stay informed about the current state of affairs within the crypto landscape.
Source: cryptopotato.com
