Tomorrow, June 30, marks a significant day in cryptocurrency options, with a colossal expiry on the horizon. Approximately $4.8 billion worth of Bitcoin and $2.3 billion of Ethereum options are poised to expire.This expiry pertains to nearly 157,000 options contracts, exhibiting a ‘put-to-call ratio’ of 0.56, indicating that more ‘call’ options are open than ‘put’ options. The ‘call’ open interest stands at just over 100,000, while Bitcoin’s ‘put’ open interest lingers at around 57,000.A ‘put-to-call ratio’ of less than one typically signals bullish market sentiment because it shows that more market participants are betting on a rise in Bitcoin’s price.
