Key Points
- 21,000 Bitcoin options and 140,000 Ethereum options expired today.
- BTC is trading above $63,000 and ETH is priced close to $3,400.
Greeks.live has just revealed the July 19 options data. According to their latest post via x, 21,000 Bitcoin options expired today with a Put Call Ratio of 1.2, a Maxpain point of $62,000, and a notional value of $1.3 billion.
Also, 140,000 Ethereum options expired today with a Put Call Ratio of 0.39, a Maxpain Point of $3,150, and a notional value of $480 million.
As Greeks.live notes, the crypto market has rallied strongly during this week, and the upward moves have been fueled by multiple positive news. All major term IVs have been showing significant rallies, generally 5% or more compared to the previous week.
They also noted that the market vibe is much more optimistic now, and while news about the Ethereum ETF is still being delayed, the ETF listing and the market growth as a whole are reportedly "unstoppable."
The eventual inflow of funds will be a catalyst for the crypto market, according to them.
Bitcoin Above $63,000
Regarding Bitcoin's price today, at the moment of writing this article, BTC is trading above $63,000, and on July 17, the coin reached levels above $66,000.
Despite the price volatility that BTC saw recently, following massive sell-offs from the German Government and the Mt. Gox repayment process, institutional money continues to flow into Bitcoin products.
For instance, the US-based Bitcoin ETFs recorded their 10th day of inflows, with BlackRock's BTC ETF, IBIT, as leader. July 16 marked the day with the highest inflows in BTC ETFs in the US since early June, $422 million, according to SoSoValue data.
Ethereum Trades Near $3,400
Regarding the price of Ethereum today, at the moment of writing this article, ETH is trading close to $3,400, after previously reaching levels above $3,500.
The crypto market is eagerly waiting for the trading debut of US ETH ETFs. Recently, Binance's CEO, Richard Teng, revealed that the spot ETH ETFs could offer a stable and substantial influx of capital over time.
He said that while the market is anticipating a steady capital deployment into the ETFs, it will also fluctuate based on various macroeconomic factors.
However, Teng believes that the ETH ETFs' liquidity has the potential to grow exponentially. After their approval, the crypto products will be available for institutional players who are considering long-term investments.
