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Bitcoin, which rose above $ 59,000 yesterday after the positive US CPI data, fell back to $ 57,000.
German government sales, Mt. In Bitcoin, which is trying to find its direction in the face of Gox uncertainty and macroeconomic events, all eyes are focused on Bitcoin (BTC) Ethereum (ETH) options that will expire today.
According to data from Singapore-based crypto options data platform Greeks.live, 24 thousand BTC and 157 thousand ETH options will expire on July 12.
Accordingly, while the Put/Call Ratio of BTC options is 1.08, the maximum loss point is $58,500 and the notional value is $1.4 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.37, a maximum loss point of $3,100, and a notional value of $490 million.
“Cryptocurrency markets have experienced a modest recovery this week, with all major period IVs falling sharply to new lows since March.
The market atmosphere is not very optimistic, with ETH ETF news constantly being delayed and the widespread view that even if ETFs come to market as expected, they will not bring in money quickly, and US stocks are also weak today.
“The entire risk asset market is waiting for a rate cut in September to come to the rescue.”
The fact that the maximum loss point in Bitcoin and Ethereum is above current price levels indicates a potential bullish trend among option investors, that is, investors' bullish expectations.
There are differences in pull/call ratios other than the maximum loss point. This rate reveals a downward trend for BTC and an upward trend for ETH.
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 1.08; For Ethereum it appears as 0.37. Accordingly, the ratio of 1.08 indicates a downward trend for BTC; A ratio of 0.37 indicates a bullish trend for ETH. However, time will tell how these rates will affect the price. At this point, do not make your investment decisions based on a single data or report.
July 12 Options Data
24,000 BTC options are about to expire with a Put Call Ratio of 1.08, a Maxpain point of $58,500 and a notional value of $1.4 billion.
157,000 ETH options are due to expire with a Put Call Ratio of 0.37, a Maxpain point of $3,100 and a notional value of $490… pic.twitter.com/rLvHLTPkrj— Greeks.live (@GreeksLive) July 12, 2024
*This is not investment advice.