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While the leading cryptocurrency Bitcoin and altcoins recovered after the overnight decline, all eyes turned to Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 21,564 BTC and 298,415 ETH options will expire on April 19.
Accordingly, while the Put/Call Ratio of BTC options is 0.64, the maximum loss point is $65,000 and the notional value is $1.4 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.42, a maximum loss point of $3,125, and a notional value of $930 million.
Greeks pointed out that there was a significant retreat in the market this week. Crypto markets experienced a significant pullback this week, live says:
“Shorts scored their biggest and most sustained victories of the year as Bitcoin and Ethereum fell below $60,000 and $3,000, respectively.
However, Saturday's Bitcoin halving expectations could no longer support the market and market sentiment was further subdued due to the recent slowdown in ETF inflows.
“Despite the rally this morning, the movements of giant whales continue to indicate a lack of confidence in the market, and it is noteworthy that the bulls need more entry support after the halving.”
At this point, analysts argued that the bullish sentiment has returned, stating that short positions have been liquidated and long positions are now attracting more interest in option data.
What Does the Put/Call Ratio Indicate for Bitcoin and Ethereum?
The put/call ratio is calculated by dividing the number of put options by the number of call options. A ratio below 1 means there are more purchases than puts, indicating an upward trend.
A ratio above 1 means there are more put options than call options, indicating a bearish trend. A ratio close to 1 means the market is balanced or neutral.
For Bitcoin, this rate is 0.64; For Ethereum it appears as 0.42. Accordingly, although these rates indicate an upward trend for BTC and ETH, they alone will not be sufficient data for an increase or decrease.
Time will tell how these rates, along with other data and signals, will affect prices. At this point, do not make your investment decisions based on a single data or report.
19 Apr Options Data
21,564 BTC options are about to expire with a Put Call Ratio of 0.64, a Maxpain point of $65,000 and a notional value of $1.4 billion.
298,415 ETH options are about to expire with a Put Call Ratio of 0.42, Maxpain point of $3,125 and a notional value of $930… pic.twitter.com/Tp0YLTu8LD— Greeks.live (@GreeksLive) April 19, 2024
*This is not investment advice.