Bitcoin and Ethereum Face $2.25 Billion Options Expiry Today

The crypto market faces heightened volatility as $2.25 billion in Bitcoin and Ethereum options expire today, with significant figures in open interest and a positive put/call ratio indicating trader optimism.

The cryptocurrency market is gearing up for significant volatility with the expiry of $2.25 billion in Bitcoin (BTC) and Ethereum (ETH) options today. This comprises $1.98 billion in Bitcoin options, with a Max Pain price of $82,000, and $271 million in Ethereum options, marked at a Max Pain price of $1,600, according to Deribit market data.

Current open interest indicates 23,349 for Bitcoin and 169,217 for Ethereum. The put/call ratio stands at 0.92, indicating a higher number of purchase options (calls) compared to sale options (puts). This suggests a positive sentiment among traders who are anticipating price increases for both cryptocurrencies.

At the moment of reporting, Bitcoin is trading just under $84,558 while Ethereum is priced around $1,584, as stated by CoinMarketCap. Notably, a well-known crypto analyst has remarked on the potential market impact of the options expiry, emphasising that it could trigger significant price fluctuations.

This analyst observes that such expirations historically bring increased market volatility as traders realign their positions. Despite the closure of U.S. and global stock markets today for Good Friday, the substantial options expiry in BTC and ETH underscores a heightened risk of price variability within the crypto sphere. Additionally, a noteworthy rise in the KEEP Network Token, which has surged 68% in just 24 hours with a trading volume increase of 895%, has also captured market attention.