On October 31, Deribit released the Bitcoin and Ethereum crypto options expiry data in a volatile crypto market. The general crypto market is down by over 3.8% in the past 24 hours, amidst crypto liquidations, whale moves, and other factors.
Bitcoin and Ethereum Options Expiry Details
Over $16 billion in Bitcoin and Ethereum options will expire on October 31 at 08:00 (UTC) on Deribit, marking a significant amount which will potentially trigger more market volatilty.
Bitcoin options will expire with a Put/Call Ratio of 0.73, and a Max Pain Point of $114,000. Upside moves are more likely and traders are less hedged, Deribit noted, especially since the US-China relations are better.
Ethereum options will expire with a Put/Call Ratio of 1.25, and a Max Pain Point of $4,100. ETH positioning is more cautious, as puts are overweighing the calls.
Both BTC and ETH prices could move to the Max Pain zone.
Bitcoin and Ethereum Price Trajectories on October 30
Both Bitcoin and Ethereum encountered high volatilty today, but Ethereum is a worse performer compared to Bitcoin in the past 24 hours.
BTC Price Action
At the moment of writing this article, BTC is trading at $108,000, down by 3% in the past 24 hours. BTC price debuted a descending trajectory on October 29 from $113,000 levels, dropping to $107,000 levels earlier.
BTC price drop debuted yesterday ahead of the FOMC meeting, and the digital asset continued to see volatilty despite the Fed’s decision to cut interest rates and begin QE in December.
Institutional interest in BTC has also taken a break with BTC ETFs recording outflows of over $470,7 million on October 31, according to data from SoSoValue.
ETH Price Action
At the moment of writing this article, ETH is trading at $3,784, down by over 4.4% in the past 24 hours.
ETH debuted a price decline from $4,000 levels on October 29, dropping to $3,766 today, ahead of a slight rebound to current levels.
US ETH ETFs also saw outflows on October 29 of above $81,4 million, signaling a break in institutional interest.
Crypto Liquidations, Whale Moves
The crypto market saw $1,11 billion in 24-hour liquidations, over $955 million in longs, and more than $150 million in shorts.
BTC recorded over $443 million in liquidations, mostly long positions, and ETH saw almost $249,5 million in liquidations, mostly in longs.
In the past 24 hours, over 216,000 traders were liquidated, and the largest crypto liquidation happened on Hyperliquid (BTC/USD over $21 million).
Hyperliquid is also the exchange with the most 24-hour crypto liquidations, above $456 million, followed by Bybit and Binance, according to CoinGlass.
It’s also worth noting that, amidst the intense market volatilty, some major whales have been letting go of their BTC and ETH. SpotOnChain revealed that a BTC OG with over 10,000 BTC deposited almost 396 BTC into Kraken, and another whale sent 10,000 ETH into Binance today, signaling potential upcoming selling.
It remains to be seen how the market reacts on the last day of October and if BTC can still close the month in the green. So far, BTC is down by 5% this month.
However, it’s worth highlighting that there are many reasons to stay optimistic despite the recent volatilty.
