On December 11, Deribit released the crypto options expiry data amidst a volatile crypto market. The general market is down by over 2.4% in the past 24 hours, with a market cap of $3.07 trillion.
Crypto Options Expiry Details
Deribit revealed that more than $4,3 billion in BTC and ETH options will expire on December 12 at 08:00 (UTC).
More than $3,57 billion in BTC options are set to expire with a Put/Call Ratio of 1.09 and a Max Pain Point of $90,000, close to BTC's current price.
Over $744 million in ETH options will expire on Deribit with a Put/Call Ratio of 1.24 and a Max Pain Point of $3,100, slightly below ETH's current price.
Currently, the crypto market seems to be waiting for the next catalyst, Deribit noted.
Bitcoin and Ethereum Price Actions
At the moment of writing this article, BTC is trading above $90,000, down by over 1.5% in the past 24 hours. BTC's price declined from levels above $94,000 on December 10, reaching a low at $89,000 levels, before bouncing back above $90,000.
BTC's price dropped yesterday, despite the FOMC meeting results, revealing that the Fed cut interest rates by 25 bps, and QE is set to begin. Fed's chair, Jerome Powell, stated that the Treasury purchases may remain elevated for a few months; also, purchases totalling approximately $40 billion in Treasury bills will start tomorrow, December 12, signaling the beginning of QE in the US.
Institutional interest in BTC continues, and the BTC ETFs in the US saw another day of inflows on December 11, above $223 million, according to SoSoValue data. It's also worth noting that Strategy purchased almost $1 billion in BTC last week, continuing its accumulation strategy.
Amidst rising global adoption, all signs point to upcoming bullish moves for BTC.
Meanwhile, ETH is trading above $3,181, down by more than 4% in the past 24 hours, being a weaker performer compared to BTC.
ETH price dropped from $3,436 on December 10, reaching lows below $3,164, before rebounding to current levels.
Institutional interest in ETH also continued, and ETH ETFs saw over $57 million in inflows yesterday, marking the third consecutive positive flow day, SoSoValue data shows.
Recent Crypto Liquidations and Bullish Market Triggers
24-hour crypto liquidations totalled more than $528 million, with long positions surpassing shorts.
CoinGlass shows that over $395 million in longs were liquidated and more than $133 million in shorts. BTC saw over $166 million in liquidations, and ETH saw more than $160 million.
Despite Bitcoin's recent price decline due to multiple reasons, there are still plenty of bullish catalysts that could pump the market, including the debut of QE in the US and rising adoption worldwide. Continued institutional interest could also support the crypto market further.
Historically, BTC's most bullish December was in 2020, when the digital asset's value gained almost 47%.
