Around 62,000 Bitcoin options contracts are due for expiry on Friday, August 30. They have a notional value of around $3.65 billion.<\/p>\n
Today\u2019s options expiry event<\/a> is a large one due to it being the end of the month. However, spot markets are rarely rattled by these derivatives developments which serve more as an indication of market sentiment.<\/p>\n This week\u2019s big batch of Bitcoin options contracts has a put\/call ratio of 0.59, which means there are almost twice as many long (call) contracts expiring than shorts (puts).<\/p>\n Open interest, or the number of value of contracts yet to expire, is still high at strike prices of $70,000 and $75,000, according<\/a> to Deribit.<\/p>\n Additionally, there is around $793 million in OI at the $90,000 strike price and still $987 million at the $100,000 strike price.<\/p>\n <\/a>Bitcoin OI by expiration. Source: Deribit<\/p>\n Crypto derivatives provider Greeks Live commented that the markets have fallen in line with Nvidia stock despite the firm beating Wall Street expectations in its earnings report<\/a> this week.<\/p>\n In addition to today\u2019s expiring Bitcoin options, there are $1.35 billion in notional value Ethereum contracts expiring. The 536,000 contracts have a put\/call ratio of 0.50 which means there are exactly twice as many long contracts than shorts.\u00a0OI is highest at the $4,000 strike price which has $373 million in open contracts.<\/p>\n Greeks Live also acknowledged<\/a> all of the Ethereum FUD that has infected the market.<\/p>\n \u201cAll Fud ETH lately, and it\u2019s true that ETH has been weak for a long time, and practical applications have been lackluster. But the market seems to be too pessimistic, and the options market has seen a number of Block options plunge in the last two days.\u201d<\/p>\n Crypto markets have declined this week, with total capitalization dropping around $200 billion. At the time of writing, the digital asset market was worth $2.17 trillion following a 1.5% decline on the day.<\/p>\n Bitcoin hit an intraday high of $61,000 but was sharply rejected<\/a> at resistance there, falling back to $59,000 during the Friday morning Asian trading session.<\/p>\n Ethereum prices closed in on $2,600 but also couldn\u2019t break resistance, falling back to $2,525 at the time of writing.<\/p>\n The altcoins<\/a> were mixed but mostly flat on the day following a week or retreat.<\/p>\n The post Can The Big $5 Billion Crypto Options Expiry Event Today Shift Market Momentum?\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Around 62,000 Bitcoin options contracts are due for expiry on Friday, August 30. They have a notional value of around $3.65 billion. Today\u2019s options expiry event is a large one due to it being the end of the month. However, spot markets are rarely rattled by these derivatives developments which serve more as an indication […]<\/p>\n","protected":false},"author":0,"featured_media":2174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2173"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2173"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2174"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Options Expiry<\/h2>\n
Crypto Market Outlook<\/h2>\n
![<\/a>Bitcoin OI by expiration. Source: Deribit<\/p>\nCrypto derivatives provider Greeks Live commented that the markets have fallen in line with Nvidia stock despite the firm beating Wall Street expectations in its earnings report<\/a> this week.<\/p>\nIn addition to today\u2019s expiring Bitcoin options, there are $1.35 billion in notional value Ethereum contracts expiring. The 536,000 contracts have a put\/call ratio of 0.50 which means there are exactly twice as many long contracts than shorts.\u00a0OI is highest at the $4,000 strike price which has $373 million in open contracts.<\/p>\nGreeks Live also acknowledged<\/a> all of the Ethereum FUD that has infected the market.<\/p>\n\u201cAll Fud ETH lately, and it\u2019s true that ETH has been weak for a long time, and practical applications have been lackluster. But the market seems to be too pessimistic, and the options market has seen a number of Block options plunge in the last two days.\u201d<\/p>\nCrypto Market Outlook<\/h2>\nCrypto markets have declined this week, with total capitalization dropping around $200 billion. At the time of writing, the digital asset market was worth $2.17 trillion following a 1.5% decline on the day.<\/p>\nBitcoin hit an intraday high of $61,000 but was sharply rejected<\/a> at resistance there, falling back to $59,000 during the Friday morning Asian trading session.<\/p>\nEthereum prices closed in on $2,600 but also couldn\u2019t break resistance, falling back to $2,525 at the time of writing.<\/p>\nThe altcoins<\/a> were mixed but mostly flat on the day following a week or retreat.<\/p>\nThe post Can The Big $5 Billion Crypto Options Expiry Event Today Shift Market Momentum?\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Around 62,000 Bitcoin options contracts are due for expiry on Friday, August 30. They have a notional value of around $3.65 billion. Today\u2019s options expiry event is a large one due to it being the end of the month. However, spot markets are rarely rattled by these derivatives developments which serve more as an indication […]<\/p>\n","protected":false},"author":0,"featured_media":2174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2173"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2173"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2174"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/08\/OI.jpg\"){kind=link}