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#GateSquareMayTradingShare Bitcoin (BTC) and altcoins have been experiencing volatile movements lately, with BTC price briefly dropping below $80,000. It then quickly recovered and rose back above $80,000, and continued its upward trend is expected.
On the other hand, some expect a decline, while, as every Friday, the expiration date for options contracts in the crypto market has arrived.
According to weekly data, approximately $2.6 billion worth of crypto options on the Deribit derivatives exchange will expire on May 15.
According to Deribit data, options worth $2.03 billion in Bitcoin (BTC) and $630 million in Ethereum (ETH) will expire.
Thus, the Put/Call ratio for BTC options is 0.58, with a maximum loss point of $80,000 and an implied value of $2.03 billion.
Looking at Ethereum, ETH options have a 0.39 Put/Call ratio, a maximum loss point of $2,300, and an implied value of $630 million.
Additionally, the total open interest in Bitcoin options across exchanges has reached $38 billion, while Ethereum’s is around $7.3 billion.
The max pain level is set at $80,000, and BTC’s spot price is moving around this level. This causes Bitcoin’s price to be confined within a narrow range before expiration. For Ethereum, the max pain level is $2,300. According to analysts, the gap between the spot price and the max pain level could lead to a limited short-term upward movement. However, this does not guarantee a definite rise or fall.
What Does the Put/Call Ratio Mean for Bitcoin and Ethereum?
While the Put/Call ratio is 0.58 for Bitcoin and 0.39 for Ethereum, these ratios indicate that investors are more inclined to buy than sell.
Investors in Bitcoin and Ethereum are leaning towards bullishness, with the 0.39 ratio in ETH suggesting a stronger expectation of upward movement compared to Bitcoin.
INVESTMENT ADVICE NOT GUARANTEED
$BTC $ETH $GT