Bitcoin and Ether dip before $22 billion options expiry day

Bitcoin and Ether have dropped today as investors prepare for the expected expiry of more than $22 billion in Bitcoin options on Friday, the ￰0￱ expiry event is expected to heighten market volatility ￰1￱ expiry comes amid broader macroeconomic uncertainty as investors await ￰2￱ data, gross domestic product figures, weekly jobless claims, and Treasury auctions, which may sway market ￰3￱ options outnumber put options Data from ￰4￱ shows that at least $22.6 billion in Bitcoin options will expire ￰5￱ holds the majority of open interest, at $17.07 ￰6￱ and CME have around $1.9 billion each in Bitcoin options due for ￰7￱ Ether, at least $5.12 billion in option contracts are set to mature on ￰8￱ options outnumber puts, with $12.6 billion in call exposure showing the prevalence of neutral to bullish strategies as long as Bitcoin maintains support above $112,000.

At least 81% of Deribit’s put contracts are set at $110,000 or lower, leaving approximately $1.4 billion active at the current ￰9￱ the other hand, roughly $6.6 billion in call options contracts are set to mature at $120,000 and above, although only $3.3 billion has the possibility of maturity at current BTC price ￰10￱ the open interest for Deribit at the current price ranges highlighted several settlement ￰11￱ BTC closes between $107,000 and $110,000, put options will dominate with $2 billion against $1 billion in ￰12￱ will result in a net $1 billion advantage for bearish ￰13￱ BTC closes between $110,000 and $112,000, then calls and puts would be matched at $1.4 billion each.

Alternatively, if BTC closes between $112,100 and $115,000, the bulls would be favored with a $600 million advantage for ￰14￱ 30-day options delta skew for Deribit shows 13%, meaning puts are trading at a premium compared to ￰15￱ poses a cautionary note for investors despite a bullish-favoring ￰16￱ markets brace for volatility Ether has declined this week due to cooling institutional demand and short-term technical ￰17￱ Lucas, a cryptocurrency analyst at BTC Markets, revealed that technical analysis shows a near-term weakness and warned that more liquidations may follow if the price breaks below $3,800. Tony Sycamore, an analyst at IG Australia, also commented that if ETH closes below $4,000, the token may drop to test the $3,700 and $3,500 ￰18￱ outflows from Ether ETFs have added to the pressure, with nearly $300 million pulled from the Ether ETFs this ￰19￱ Monday, at least $1.7 billion bullish positions were wiped out of the market following the ￰20￱ dropped by 1.3% at the time of publication and is currently trading at $111,578.31.

The token has recorded $53.48 billion in 24-hour volume and a market cap of $2.22 ￰21￱ , on the other hand, has dropped below 4.11% and is currently trading at $4,004.11. ETH has also recorded $46.55 billion in 24-hour volume and a market cap of $483.52B. The wider crypto market cap has dropped from a high of $3.92 trillion this week to $3.82 trillion today, shedding off over $100 billion in ￰22￱ Bitcoin maintains its price above $112,000, then Bitcoin call option holders may benefit; however, lower price levels may benefit bearish ￰23￱ expect market volatility to intensify throughout Friday and into the weekend. Don’t just read crypto ￰24￱ ￰25￱ to our newsletter.

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