Signs of a recovery in the cryptocurrency market are flashing amid post-crash buying sentiment. Traders are bracing for volatility as more than $10.5 billion worth of Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) options expire today.
BTC price jumped more than 2% above $60,000 in Asian trading hours, after falling to lows of $58,000. In the past few hours, the cryptocurrency market recorded nearly $35 million in short liquidations.
Cryptocurrency market recovery or collapse as $9.3 billion worth of Bitcoin options expire today?
according to Derived dataThe 151,000 BTC option with a notional value is scheduled to expire on June 26. The buy/sell ratio is 0.63. However, the 24-hour put volume is much higher than the 24-hour call volume. The buy/sell ratio has risen to 1.24, indicating that traders are bearish.
However, cryptocurrency market traders are adjusting their positions to increase BTC’s implied volatility and 25 delta skew. This indicates that traders are hedging for downside protection and are anticipating a recovery phase after the quarterly cryptocurrency market options expiration.
Moreover, the maximum price of pain is $70,000, which is higher than the current Bitcoin price of around $59,900. However, the data shows a high probability of expiration below the strike price of $59,500, with 50% for $60,000 at press time.
Traders are buying $65,000 worth of call options for their expiration on July 3, indicating signs of a recovery in the cryptocurrency market in the coming days. It is worth noting, Core PCE inflation comes in line With expectations, lower oil prices, lower US dollar index (Dixie) and Treasury yields could reset the cryptocurrency market for the early recovery phase.
According to Greeks Live, the risks of the cryptocurrency market are increasing, but institutions and whales have not continued to bet on further declines yet. They wait for further signals about the market’s direction to settle.
What’s next for ETH price after expiration?
Cryptocurrency market participants are also anticipating a potential rebound amid the quarterly Ethereum options expiration. 1,002K ETH options are set to expire with a notional value of over $1.5B, with a put/call ratio of 0.50.
In the past 24 hours, put volume has exceeded call volume, with the put/call ratio at 1.33. It is showing bearish sentiment among traders as it dominates calls. However, implied volatility and 25 delta skew indicate a potential recovery in the coming days.
Also, the maximum pain point is $2,000, which is much higher than the current price. Options traders are betting on ETH trading in the short term yet Crypto market collapse. The probability of ETH options expiring above the current market price of $1,550 is 58%.
ETH price has rebounded 3% after falling more than 8% over the past 24 hours, and is currently trading at $1,553. The 24-hour low and high are $1,510 and $1,656, respectively. However, trading volume rose 14% amid dip buying sentiment.
Ethereum Treasuries, backed by Tom Lee, Bitmine Immersion (BMNR) and SharpLink (SBET) are buying ETH on dips. ShapLink purchased 5,000 ETH from FalconX today after 8 months, increasing its holdings to 876,285 ETH.
XRP Under Pressure, Buy Whales and Buy Amid Signs of Cryptocurrency Market Recovery
More than 41,000 XRP options with a notional value of about $43 million are set to expire today. The buy/sell ratio is 0.71. Call volume remains higher than put volume over the past 24 hours, with a put/call ratio of 1.25.
The maximum pain point is $1.30, which is higher than XRP’s price of $1.03 at the time of writing. However, traders are betting on XRP recovering above $1.10 despite significant selling pressure.
Furthermore, XRP chain data indicates a rise in positive whale flows amid the recent price decline. If the whale accumulation remains in positive territory in the coming days, it could trigger a moderate recovery Ripple Secure MiCA Compliance.
$57 million worth of SOL options expire
83,000 SOL options with a notional value of over $57 million expiring, with a put/call ratio of 0.50. In the past 24 hours, call volume has remained higher than put volume, with a put/call ratio of 0.99. This indicates that options traders are generally optimistic and are waiting for the expiration of Bitcoin and Ethereum crypto options to get signals about the market direction.
The maximum pain point is $80, with traders targeting a SOL price of $70 in the coming weeks. Sol price It rebounded 6% to $68 over the past few hours. Trading volume has increased by 15% in the last 24 hours.
