en.bitcoinsistemi.com
The leading cryptocurrency, Bitcoin, failed to stay here while it pinned above $64,000 with the tremendous rise it experienced during the week.
While it remains a matter of curiosity whether the rise in $BTC will continue or not, all eyes are on Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 19,000 $BTC and 110,000 $ETH options will expire on March 1.
Accordingly, while the Put/Call Ratio of $BTC options is 1.49, the maximum loss point is $55,000 and the notional value is $2 billion.
Looking at Ethereum, $ETH options have a Put/Call Ratio of 0.88, a maximum loss point of $3,000, and a notional value of $790 million.
Stating that the cryptocurrency market looks quite impressive this week, with Bitcoin exceeding $64,000, Greeks.live said that spot $BTC ETFs were effective in the recent rise:
“Crypto markets are looking pretty impressive this week, with Bitcoin surpassing $64,000 at one point and showing a clear uptrend.
Spot ETF inflows are driving the spot bull market, which has been on a dramatic rise this week. However, options volume has been seeing solid inflows as positions have increased moderately and investors have recently started to hedge their spot positions, creating a very healthy market structure.
“Bitcoin currently has over 50% market share, which could signal more interest in Ethereum later in the bull market.”
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 1.49; For Ethereum it appears as 0.88. Accordingly, the fact that this ratio is much higher than 1 for $BTC indicates that sales in Bitcoin are much higher than purchases and the price is in a downward trend; It indicates a neutral situation for $ETH.
However, 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.
[March 1 Options Data].
19,000 $BTC options are about to expire with a Put Call Ratio of 1.49, a Maxpain point of $55,000 and a notional value of $2 billion.
110,000 $ETH options are about to expire with a Put Call Ratio of 0.88, Maxpain point of $3,000 and notional value of… pic.twitter.com/PxSicI6V4u— Greeks.live (@GreeksLive) March 1, 2024
*This is not investment advice.