🔥🔥2.06 Billion Dollar Day Has Come for Bitcoin and Ethereum: What Are the Prices? 🔥🔥
Bitcoin and Ethereum in Slight Decline, $2 Billion Option Expiration Approaching!
Bitcoin (BTC) and Ethereum (ETH) prices have experienced minor declines in the last 24 hours. According to CoinGecko data, BTC lost 0.61% in value compared to yesterday, falling from $67,296 to $66,888. ETH decreased by 0.57%, falling from $3,531 to $3,511.
According to derivatives market data, options worth $2 billion will expire today. $1.35 billion of these options are Bitcoin options, and $710 million are Ethereum options.
The put-call ratio of Bitcoin options is 0.49, and the put-call ratio of Ethereum options is 0.36. The fact that the put-call ratio is less than 1 indicates that call options are preferred more than put options and a bullish trend prevails in the market.
The max pain point in option contracts represents the price at which investors will suffer the most loss when the options expire. The price at this point corresponds to the average of the prices of the call and put options. The maximum pain point for Bitcoin is calculated as $68,500 and for Ethereum is $3,600.
Although important economic data from the USA this week increased the stock markets, the cryptocurrency market did not show the desired performance.
On the other hand, US Securities and Exchange Commission (SEC) Chairman Gary Gensler said in his statement to senators that the approval process of spot Ethereum ETFs could be completed this summer. Derivatives analyst GreeksLive argued that there may be news about Ethereum ETF approval at the end of this month and investors should prepare next month's call options now.
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