Key Points
- 61,000 Bitcoin options and 490,000 Ethereum options expired today.
- BTC is trading above $67,000 and ETH is priced above $3,200.
The latest reports from Greeks.live reveal the July 26 Bitcoin and Ethereum options expiration data.
Today, 61,00 BTC options have expired with a Put Call Ratio of 0.62, a Max Pain point of $63,500, and a notional value of $4.1 billion.
Also, 490,000 ETH options have expired with a Put Call Ratio of 0.45, a Max Pain point of $3,350, and a notional value of $1.6 billion.
Greeks.live also highlighted in their post that during this week, the crypto market entered a correction, with the Ethereum ETF listing bringing the coin down, just as expected.
Trading for the crypto products began on July 23, after the SEC had officially approved the S-1 applications of US Ethereum ETFs.
According to the same notes, the ETH/BTC rate is now down to its lowest level in months and all of the major IVs have rebounded significantly, with short-term IVs seeing a notable rebound, generally by at least 10% compared to a week ago.
The Bitcoin Conference-related news is set to be digested over this weekend, and after today’s monthly delivery, IVs will be under more downward pressure during next week, according to Greeks.live.
BTC above $67,000 and ETH above $3,250
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading above $67,000 amidst a strong injection of optimism coming from political support.
The coin is up by over 4% today.
As we revealed earlier today, during a recent interview, JFK Jr. said that he’d push the federal government to buy Bitcoin until the size of BTC holdings matched the nation’s gold reserves.
This would mean an amount of over $9 billion in Bitcoin which would place the US as the biggest BTC holder in the world.
Also, Trump’s campaign managed to raise over $4 million in Bitcoin and crypto ahead of the former US President’s speech during The Bitcoin Conference.
Regarding the price of Ethereum today, at the moment of writing this article, ETH is trading above $3,250, up by almost 3% in the past 24 hours.
ETH ETFs in the US saw $152 million in outflows on July 25, according to SoSovalue data, following the first inflow day of almost $107 million on July 23.
