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Red color dominates BTC and the market since the end of June, when Bitcoin had weekly, monthly and quarterly closures.
At this point, 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, 18 thousand BTC and 164 thousand ETH options will expire on July 5.
Accordingly, while the Put/Call Ratio of BTC options is 0.65, the maximum loss point is $61,500 and the notional value is $1 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.36, a maximum loss point of $3,350, and a notional value of $470 million.
” Immediately after the three-month maturity, a huge fluctuation was seen in the market.
The cryptocurrency market started July with heavy losses, with all major cryptocurrencies falling to new lows during the month.
Major futures IVs have increased significantly and this has been a good opportunity for institutional sellers to build positions. “The market atmosphere remains pessimistic.”
The fact that the maximum loss point in Bitcoin and Ethereum is above the current price levels indicates a potential bullish trend among option investors, that is, investors' bullish expectations.
Apart from the maximum loss point, pull/call ratios also reveal a bullish trend for BTC and 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 0.65; For Ethereum it appears as 0.36. Accordingly, these rates indicate an upward trend for BTC and 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 5 Options Data
18,000 BTC options are about to expire with a Put Call Ratio of 0.65, a Maxpain point of $61,500 and a notional value of $1 billion.
164,000 ETH options are due to expire with a Put Call Ratio of 0.36, a Maxpain point of $3,350 and a notional value of $470… pic.twitter.com/uAxOO5gDQ8— Greeks.live (@GreeksLive) July 5, 2024
*This is not investment advice.