Key Points
- 20,000 Bitcoin options and 200,000 Ethereum options expired today.
- BTC is trading near $67,000 and ETH is priced above $3,500.
According to the latest reports coming from Greeks.live Bitcoin and Ethereum options have expired today, June 14.
20,000 Bitcoin options have expired today with a Put Call Ratio of 0.49, a maximum pain point of $68,500, and a notional value of $1.35 billion.
Also, 200,000 Ethereum options have expired with a Put Call Ratio of 0.36, a max pain of $3,600, and a notional value of $710 million.
The notes highlighted the importance of this big macro week which delivered significant economic data which turned out more favorable to the market.
June 12 marked the day when the CPI report came out showing eased inflation. Also, following the FOMC meeting, the Fed decided to leave the interest rates unchanged at 5.25% to 5.50%.
Greeks.live noted that the US stock market rose significantly, but the crypto market underperformed, the mainstream coins as a whole fell in price and altcoins are down as well.
The reports note that there are fewer hot spots in the market recently, and the overall crypto market is relatively quiet.
Now, BTC each major short-term IV is below 50%, ETH each major short term is below 60% and both have fallen to a lower level. The buyer is more cost-effective.
According to the same notes, we can expect news on the ETH ETF approval by the end of the month, so this is a good time to lay out next month’s call options in advance.
BTC near $67,000 and ETH above $3,500
At the moment of writing this article, BTC is trading near $67,000.
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Despite the recent price corrections, BTC has been surrounded by optimistic predictions these days. According to new reports, BTC’s significant consolidation period could trigger price rallies soon.
In a previous cycle after the 2020 Bitcoin halving, there was a 21-day consolidation period before BTC broke out, and the coin eventually hit an ATH of $69,000 in November 2021.
Ethereum is currently priced above $3,500.
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Ethereum ETFs are waiting to go live soon most likely during the summer.