Key Points
- Greeks.live reveals that 18k Bitcoin options and 280k Ethereum options expire today.
- Bitcoin is trading around the $63k mark.
The latest reports coming from Greeks.live reveal that 18,000 Bitcoin options are about to expire today, with a Put Call Ratio of 0.64, a Maxpain point of $62,000, and a notional value of $1.2 billion.
Also, 280,000 Ethereum options are about to expire today with a Put Call Ratio of 0.74, a Maxpain point of $3,050, and a notional value of $800 million.
Greeks.live notes that the crypto markets have been weaker this week, as the volume continued to fall.
According to them, the outflow dynamics from the US Bitcoin ETFs eased, but checking out the Block trade and market trading structure, the weakness in the price has led to a continued weakening of confidence in the market.
The IV reportedly continues to fall across all major terms, with current IV levels already slightly below the mean water mark, which is supportive. There is also little room to continue to fall at this point in time, the notes read.
Empirically, May has not been a good month for the market, and it is good value for money to buy some monthly puts right now, Greeks.live concludes.
May 10 Options Data
18,000 BTC options are about to expire with a Put Call Ratio of 0.64, a Maxpain point of $62,000 and a notional value of $1.2 billion.
280,000 ETH options are about to expire with a Put Call Ratio of 0.74, Maxpain point of $3,050 and a notional value of $800… pic.twitter.com/lurrMvi8cO— Greeks.live (@GreeksLive) May 10, 2024
Bitcoin is trading close to the $63k mark
At the moment of writing this article, Bitcoin trades close to the important mark of $63k. The coin is up by almost 3% in the past 24 hours on CoinMarketCap.
- Zoom
- Type
Despite the fact that Bitcoin ETFs have recorded over $11 million in total net outflows the other day, Bitcoin received a dose of optimism from a couple of factors this week.
For starters, the former president of the US, Donald Trump, and the Federal Reserve could unleash $4 trillion in Bitcoin, sending BTC to $200k by 2025.
Also, a potential decision coming from the European Union securities watchdog could have a massive impact on Bitcoin and the crypto industry in general.
The European Securities and Markets Authority (ESMA) has just asked stakeholders whether it should add crypto into investment products. This could enable digital assets to flow into a market that’s bigger than Bitcoin ETFs in the US – over 12 trillion Euros.
