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#$2.7 Billion Options Expire#

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Overview

Options worth an estimated $2.73 billion in Bitcoin and Ethereum are set to expire on Deribit tomorrow, with Bitcoin options accounting for $2.09 billion and Ethereum options for $639 million. The put/call ratio for Bitcoin options is 0.95, with a maximum pain point of $96,000, while the put/call ratio for Ethereum options is 0.31, with a maximum pain point of $3,200. This suggests that there is stronger bearish sentiment in Bitcoin options, while there is stronger bullish sentiment in Ethereum options.

Ace Hot Topic Analysis

Analysis

Tomorrow, approximately $2.73 billion worth of Bitcoin and Ethereum options will expire on Deribit. Of this, $2.09 billion worth of Bitcoin options have a put/call ratio of 0.95 with a maximum pain point of $96,000. Meanwhile, $639 million worth of Ethereum options have a put/call ratio of 0.31 with a maximum pain point of $3,200. This means that if the Bitcoin price is below $96,000 at expiry tomorrow, put option holders will profit while call option holders will lose. Conversely, if the Bitcoin price is above $96,000, call option holders will profit while put option holders will lose. The situation is similar for Ethereum options. Due to the difference in put/call ratios, the market expects Bitcoin to remain rangebound while Ethereum is leaning towards bullish sentiment.

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$2.73 billion worth of BTC and ETH options will expire tomorrow, of which BTC options have a notional value of $2.09 billion and ETH options have a notional value of $639 million.

The Put Call Ratio for BTC options is 0.95, with the maximum pain point at $96,000, indicating a bearish sentiment in the market towards BTC price movement.

The Put Call Ratio for ETH options is 0.31, with the maximum pain point at $3,200, indicating a bullish sentiment in the market towards ETH price movement.

Option expiry could impact the price movement of both BTC and ETH, and market reaction needs to be monitored.