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Although the leading cryptocurrency Bitcoin reached $69,000 on March 5, it could not stay there due to the selling pressure it faced, but a few days later it broke a record and exceeded $69,000.
Since then, $BTC has exceeded $ 73,000 and renewed its ATH, while experiencing a correction that started yesterday evening and went up to $ 65,000.
While this correction in Bitcoin was also effective in altcoins, especially Ethereum, 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, 30,000 $BTC and 330,000 $ETH options will expire on March 15.
Accordingly, while the Put/Call Ratio of $BTC options is 0.79, the maximum loss point is $66,000 and the notional value is $2.1 billion.
Looking at Ethereum, $ETH options have a Put/Call Ratio of 0.69, a maximum loss point of $3,550, and a notional value of $1.25 billion.
Stating that the $BTC price has decreased due to the slowdown in spot Bitcoin ETF inflows, Greeks.live said:
“The crypto market has remained strong this week, with the price of Bitcoin rising above $70,000 at one point.
However, yesterday we saw a slowdown in Bitcoin ETF inflows and the $BTC price began to pull back.
US $BTC ETFs are driving the spot bull market, now fund inflows have slowed, price is oscillating, but options volume and positions continue to increase.”
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 0.79; For Ethereum it appears as 0.69. Accordingly, the fact that this ratio is close to 1 for $BTC indicates that the situation is balanced and neutral for $BTC; It indicates a bullish trend 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 15 Options Data
30,000 $BTC options expired with a Put Call Ratio of 0.79, a Maxpain point of $66,000 and a notional value of $2.1 billion.
330,000 $ETH options expired with a Put Call Ratio of 0.69, Maxpain point of $3,550 and a notional value of $1.25 billion.
The crypto… pic.twitter.com/DNTZjhTFVp— Greeks.live (@GreeksLive) March 15, 2024
*This is not investment advice.