On January 9, approximately 21,000 Bitcoin (BTC) options and 126,000 Ethereum (ETH) options expired, with a combined nominal value of $2.4 billion. The BTC options had a Put Call Ratio of 1.07 and a max pain point at $90,000, while ETH options had a Put Call Ratio of 0.88 and a max pain point at $3,100. This expiration represents about 7% of total open interest. Following significant declines in the last quarter of the previous year, both BTC and ETH have shown signs of stabilization, with strong support at $90,000 and $3,000, respectively. Market sentiment has improved, and implied volatility for BTC remains around 40%, while ETH's has decreased to 55%. The period saw high block trading volumes, driven by new position demands, with block trades accounting for over 70% of total transactions, the highest in recent months. Market makers and active traders, holding substantial cash reserves, are primarily focusing on BTC end-of-month call options and ETH end-of-month put options.
$2.4 Billion in BTC and ETH Options Expire Amid Market Stabilization
This content is for informational purposes only and does not constitute investment advice.
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