#$2.7 billion in options are about to expire.#

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Hot Topic Overview

Overview

Tomorrow, $2.73 billion worth of Bitcoin and Ethereum options will expire on the Deribit exchange. Of this, $2.09 billion is in Bitcoin options, with a put/call ratio of 0.95 and a maximum pain point of $96,000. Ethereum options have a notional value of $639 million, with a put/call ratio of 0.31 and a maximum pain point of $3,200. Due to the difference in put/call ratios, Bitcoin may remain range-bound, while Ethereum may have a bullish bias.

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Analysis

According to Deribit data, the notional value of BTC and ETH options expiring tomorrow totals approximately $2.73 billion, of which BTC options account for $2.09 billion. The maximum pain point for BTC options is $96,000, with a Put Call Ratio of 0.95, indicating significant market uncertainty regarding BTC price movement. This suggests a relatively balanced sentiment between bearish and bullish views. Meanwhile, ETH options have a notional value of $639 million, with a maximum pain point of $3,200 and a Put Call Ratio of 0.31. This signifies a more optimistic market outlook for ETH, with bullish sentiment dominating. The divergence in Put/Call ratios raises the question of whether BTC will maintain its range-bound stability while ETH leans toward a bullish trajectory, a development worth observing.

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Classic Views

$2.73 billion in BTC and ETH options are set to expire tomorrow, with BTC options representing a notional value of $2.09 billion and ETH options representing a notional value of $639 million.

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The Put Call Ratio for BTC options is 0.95, with the maximum pain point at $96,000, indicating a market divergence on the price trend of BTC.

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The Put Call Ratio for ETH options is 0.31, with the maximum pain point at $3,200, indicating a bullish market outlook on the price trend of ETH.

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Option expiry may have an impact on the price trend of BTC and ETH, and market trends should be closely monitored.

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