Around 26,000 Bitcoin options contracts will expire on Friday, Feb. 7, and they have a notional value of roughly $2.5 billion.<\/p>\n
This week\u2019s expiry event is about a third of the size of last week\u2019s<\/a> month-ending mammoth one. Therefore, there is likely to be a minimal influence on spot markets, which have retreated this week.<\/p>\n This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 0.58, meaning that there are many more call (long) contracts expiring than puts (shorts). The max pain point, or price where most losses will be made, is $99,500.<\/p>\n Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at the $120,000 strike price, which is $1.7 billion, according<\/a> to Deribit.<\/p>\n There is also around $1.3 billion in OI at the $110,000 strike price, as derivatives traders continue to speculate that prices will rise from current levels in the longer term.<\/p>\n Earlier this week, crypto derivatives provider Greeks Live said<\/a>, \u201cThe market is now very divided, with BTC being strongly supported by funding from both inside and outside the crypto.\u201d<\/p>\n It added that altcoins, represented by ETH, \u201care losing money violently, the vast majority of cryptocurrency prices have shrunk significantly, and the altcoin season that market was expecting has not arrived.\u201d<\/p>\n \u201cBut we can see from the options data BTC and ETH skew have maintained a positive value. The giant whale also bought a large number of call options in the pullback, indicating that the market is still optimistic about the future as a whole,\u201d<\/p>\n Skew refers to the difference in implied volatility (IV) between call and put options or across different strike prices and expirations.<\/p>\n 7 Feb Options Data \u2014 Greeks.live (@GreeksLive) February 7, 2025<\/a><\/p>\n\n In addition to today\u2019s tranche of Bitcoin options, around 203,000 Ethereum contracts are also expiring with a notional value of $560 million, a put\/call ratio of 0.46, and a max pain of $2,950.<\/p>\n This brings Friday\u2019s combined crypto options expiry notional value to around $3 billion.<\/p>\n Total market capitalization has fallen just below 2% on the day to $3.3 trillion. However, it remains at the lower lines of a range-bound channel that formed in mid-November.<\/p>\n Bitcoin<\/a> dipped below $96,000 in an intraday low in late trading on Thursday but managed to recover marginally to reach $97,400 during the Friday morning Asian trading session. The asset has been down-trending for the past week, having lost 7% since the same time last week.<\/p>\n There is still no love for Ethereum, which fell 3% to below $2,700 early on Friday and appears to be struggling to reclaim it.<\/p>\n The altcoins<\/a> were a sea of red, with only Tron (TRX) bucking the trend with a 4.5% gain on the day.<\/p>\n The post How Will Markets React to Today\u2019s $2.5B Bitcoin Options Expiry?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Around 26,000 Bitcoin options contracts will expire on Friday, Feb. 7, and they have a notional value of roughly $2.5 billion. This week\u2019s expiry event is about a third of the size of last week\u2019s month-ending mammoth one. Therefore, there is likely to be a minimal influence on spot markets, which have retreated this week. […]<\/p>\n","protected":false},"author":0,"featured_media":42464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-42463","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\/42463"}],"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=42463"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/42463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/42464"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Options Expiry<\/h2>\n
\n26,000 BTC options expired with a Put Call Ratio of 0.58, a Maxpain point of $99,500 and a notional value of $2.54 billion.
\n203,000 ETH options expired with Put Call Ratio of 0.46, Maxpain point of $2,950 and notional value of $560 million.
\nMarket sentiment was\u2026 pic.twitter.com\/UbN9mtdrJ6<\/a><\/p>\nCrypto Market Still Retreating<\/h2>\n