A recent update from Greeks.live, a leading crypto analysis platform, revealed critical information about the upcoming expiration of Bitcoin (BTC) and Ether (ETH) options.

The data reveals that more than $2.33 billion in these options is about to expire, drawing the interest of many traders and investors. The impending expiration of the BTC and ETH options marks a turning point in the cryptocurrency market, as it frequently results in increased volatility and strategic maneuverings among market participants.

Crypto Options Face Expiration

Per Greeks.live, the imminent expiration of over 21,550 BTC options generates interest in the broader crypto market. The data shows a Put Call Ratio of 0.64, indicating a preference for put options over call options.

This observation suggests a prevailing bearish sentiment among investors, as evidenced by a Maxpain point of $65,000. The combined notional value of these expiring BTC options is $1.4 billion.

Meanwhile, Ether advocates are paying close attention to the expiration of over 298,400 ETH options. Like BTC, the Greeks.live data shows a Put Call Ratio of 0.42, indicating a bearish inclination in market participants.

Moreover, the Maxpain point for these expiring ETH options is $3,125, reflecting traders’ expectations on ETH’s price level. Also, the total notional value of these Ethereum options is $930 million, indicating significant market activity and investor interest.

Broader Crypto Market Sentiments

The prices of the top two digital assets fell below their critical thresholds this week. BTC flirted with $60,000, while ETH fell towards $3,000.

This plunge resulted in substantial gains for short sellers, signaling a significant shift in market dynamics. Previously, anticipation over Saturday’s Bitcoin halving had boosted crypto prices, but the current market conditions prove that the optimism alone cannot sustain the market rally.

Market sentiment is also dampened, particularly with the recent slowdown in spot BTC ETF inflows. Although a modest crypto market rally on Apr. 19 provided a ray of hope, the actions of market whales signify persistent uncertainty.

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.