Key Points
- The latest data from Greeks.live reveals over 21k Bitcoin and 298k Ethereum options are about to expire today.
- Market sentiment shows increased volatility a few hours ahead of the Bitcoin halving.
According to the latest data coming from Greeks.live trading tool solution provider to crypto options traders, Bitcoin and Ethereum options are about to expire today.
In a post on X, the notes reveal that 21,564 Bitcoin options will expire today with a Put Call Ratio of 0.64, a Maxpain point of $65,000, and a notional value of $1.4 billion.
According to the same post, 298,415 Ethereum options are about to expire with a Put Call Ratio of 0.42, a Maxpain point of $3,125, and a notional value of $930 million.
Crypto markets have seen important pullbacks during the course of this week, with BTC and ETH dropping to process below the significant levels of $60k and $3k, respectively. Shorts scored their most important and enduring victories of this year.
On the other hand, IVs across all major terms have witnessed a sustained decline, and this was mostly due to the sharp drop in call option prices. The upcoming halving expectations are no longer able to support the market according to the trading tool.
They also noted that the overall market sentiment has been more subdued with the recent slowdown in ETF inflows.
Also, despite the sudden rally that the market saw today, the giant whales’ actions continue to show a lack of confidence in the market. There’s a need for bulls to keep supporting the inflows post-halving.
19 Apr Options Data
21,564 BTC options are about to expire with a Put Call Ratio of 0.64, a Maxpain point of $65,000 and a notional value of $1.4 billion.
298,415 ETH options are about to expire with a Put Call Ratio of 0.42, Maxpain point of $3,125 and a notional value of $930… pic.twitter.com/Tp0YLTu8LD— Greeks.live (@GreeksLive) April 19, 2024
Bitcoin has 15 more hours until the halving event
Bitcoin’s halving is just around the corner and the coin’s price saw massive volatility during the days.
Btcoin’s price was affected by the latest Israel attack on Iran news, dipping below $60k, ahead of a quick rebound at around $65k in a relatively short amount of time.
At the moment of writing this article, BTC is trading at around $64,600, up by about 5% in the past 24 hours on CoinMarketCap.
It looks like the market is overlooking the attack-related news, and it remains focused on the upcoming halving.
This week began on an optimistic note coming from Hong Kong following the announcement of the approval of the Bitcoin and Ethereum ETFs.
