Key Points
- 37,000 Bitcoin options and 180,000 Ethereum options expire today.
- BTC trades above $63,000 and ETH is priced above $3,100.
August 2 Bitcoin and Ethereum options data has just been released.
According to official notes from Greeks.live, 37,000 BTC options are expiring today with a Putt Call Ratio of 0.58, a Maxpain point of $66,000, and a notional value of $2.4 billion.
Also, 180,000 ETH options expire with a Put call Ratio of 0.55, a Maxpain point of $3,3000, and a notional value of $600 million.
The crypto market was weaker this week, with ETH ETF listing bringing down ETH as expected, while the crypto market saw overall outflows.
Greeks.live also mentioned in their post on X that a number of important events settled down smoothly, with all major IVs seeing significant declines. Also, Dvol has fallen to its lowest level of the year, while the crypto market has low expectations for the aftermath.
It’s also worth noting that the US stocks have been underperforming recently, and there is not enough positivity to support the Market in August yet. The same notes reveal that the crypto market may have to wait for another month or two for upside moves.
BTC Trades Above $63,000, and ETH Above $3,100
At the moment of writing this article, BTC is trading above $63,000, down by 0.5% today.
Bitcoin started this week by reaching levels close to $70,000, but multiple factors triggered a decline in price for the coin. These include the following:
- US Federal Reserve Chairman Jerome Powell announced leaving the interest rates unchanged at 525-550 basis points at the FOMC meeting on July 31.
- Political developments in the US also affected BTC’s price trajectory.
- Mt. Gox BTC transfers to Kraken and Bitstamp occurred on July 30, triggering volatility for BTC.
Overall, BTC’s decline is part of an ongoing correction that began after testing the resistance of a multi-month falling trendline.
Regarding the price of Ethereum today, at the moment of writing this article, the coin is trading above $3,300, down by 1% in the past 24 hours.
However, Ethereum ETFs kicked off August with a positive inflow of over $27 million, according to SoSovalue data.
