On November 20, Deribit released the crypto options expiry data in a volatile crypto market. The general crypto market's total cap sits at $3.09 trillion, and thr Fear and Greed index points at 15, still signaling extreme fear.
Deribit's BTC and ETH Options Expiry Details
On X, Deribit announced that more than $4,2 billion in BTC and ETH options are set to expire on November 21st at 8:00 (UTC).
Bitcoin options will expire with a Put/Call Ratio of 0.63 and a Max Pain Point of $99,000, higher than Bitcoin's current price. Deribit noted that positioning isn't signalling a major risk off, but traders maintain caution following the latest sharp price decline.
Ethereum options will expire with a Put/Call Ratio of 0.77 and a Max Pain Point of $3,200, also higher compared to Ethereum's price today. ETH OI shows persistent call demand from the mid-range upward, and traders keep exposure open into expiry, suggesting that confidence hasn't fully faded, despite the market volatilty.
Bitcoin and Ethereum Price Actions
At the moment of writing this article, BTC is trading above $89,000, down by over 0.8% in the past 24 hours.
Since November 19, BTC saw volatilty and its price fluctuated between $88,000 levels and almost $93,000.
At the moment of writing this article, ETH is trading above $2,919, and it's a weaker performer in the past 24 hours compared to BTC, being down by almost 2% today.
Since November 19, ETH prices have fluctuated between lows of $2,870 and a top above $3,050.
Regarding institutional interest in BTC and ETH, the US-based BTC ETFs saw renewed inflows on November 19, recording over $75,4 million in positive flows, while ETH ETFs saw their seventh day of outflows at over $37,3 million, SoSoValue data shows.
ETH ETFs recorded negative flows since November 11, with the biggest outflow day being November 13 at almost $260 million.
Meanwhile, crypto liquidations continue, but at lower numbers compared to other days in November. This month, multiple traders, including Andrew Tate, have been liquidated over and over again.
The Crypto Market Overall Sentiment, and Why to Stay Optimistic
Despite the bearish feeling that lingers in the crypto market, there are still optimistic events that could bring back bullish moves for BTC and crypto.
For instance, earlier today, the US Congressman Warren Davidson introduced legislation to codify Trump's Strategic Bitcoin Reserve Executive Order - the bill would allow taxes to be paid in BTC and be exempt from capital tax gains, among others. He stated this during a Fox Business interview earlier, highlighting that BTC is an appreciating asset over time.
Also, despite low chances of a December rate cut, QT should end at the beginning of next month, allowing more capital to flow into BTC and crypto. Multiple crypto ETFs are about to go live after the US Government shutdown ended, bringing bullish moves as well.
More than that, global crypto and blockchain adoption grows stronger amidst worldwide clearer regulations that will make the industry more appealing to investors.
These are just some of the reasons why the industry should maintain optimism for the future.
