Summary
TLDR: A significant amount of Bitcoin and Ethereum options are set to expire soon, potentially leading to increased market volatility. The put-to-call ratios for BTC and ETH are 0.62 and 0.49, with maximum pain points at $69,000 and $3,425, respectively. Analysts suggest selling in the medium term and monitoring the situation closely to avoid unwanted stop-loss orders. The impact of option expiration on prices is short-term, with the market likely returning to normal the next day.
Key Points
1. A substantial amount of Bitcoin (BTC) and Ethereum (ETH) options will expire on April 12, 2024, with notional values of $1.5 billion and $800 million, respectively.
2. The expiration of these options may lead to increased volatility in the market and potentially impact the prices of Bitcoin and Ethereum.
3. Analysts have observed a rise in volatility within the crypto market, with short calls emerging as a dominant trade, especially with the approaching halving event.