Key Points
- 32,000 Bitcoin options and 206,000 Ethereum options are set to expire today.
- BTC is trading near $61,000 and ETH is priced above $2,600.
Amidst a recovering crypto market, Greeks.live just released the August 9 Bitcoin and Ethereum options data.
In a post on X, the team at Greeks.live reveals that 32,000 BTC options are about to expire with a Put Call Ratio of 0.71, a Maxpain point of $60,000, and a notional value of $1.9 billion.
Also, 206,000 ETH options are about to expire today, with a Put Call Ratio of 0.96, a Maxpain point of $2,950, and a notional value of $560 million.
The Yen rate hike hit the markets hard at the beginning of this week, and the softer stance showed by the Bank of Japan has brought sentiment back, with the crypto market rallying sharply, mainly led by BTC and SOL.
On the other hand, ETH ETFs have been weaker since listing.
Greeks.live also notes that major IVs are down, but they are still higher compared to how they were before the market crash, and considering the sharp volatility, it is hard for IVs to fall sharply for a short time.
BTC Near $61,000 and ETH Above $2,600
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading close to $61,000, seeing a surge in price of almost 7% in the last 24 hours.
BTC started the week with a dip below $50,000 on August 5, but the price of the coin shortly rebounded above the level.
During the market crash, the Bitcoin market saw speculators purged, with $365 million in total liquidations, long and short positions as well.
On August 8, CryptoQuant posted via X that Bitcoin demand is back in the US, citing the fact that Coinbase Premium Index turned positive again. High premium values could indicate US investors’ strong buying pressure in Coinbase.
Regarding the price of ETH today, at the moment of writing this article, the coin is trading above $2,680, up by over 10% today.
On August 5, the Crypto Black Monday, as some analysts called it, ETH’s price dropped to levels below $2,200, but managed to recover since.
