The cryptocurrency market will see over $10 billion worth of Bitcoin, Ethereum, XRP, and Solana options expire today. Traders are bracing for massive volatility and increased uncertainty amid profit-taking, with maximum pain for BTC and ETH below current prices.
The cryptocurrency market is awaiting the expiration of $8.3 billion worth of Bitcoin options
Nearly 106,000 Bitcoin options with a notional value of $8.3 billion are set to expire on… It will be a joke Cryptocurrency Derivatives Exchange Today, April 24. A sell ratio of 0.98 indicates neutral sentiment among traders.
The maximum price of Bitcoin is $73,000, which is much lower than the current market price of $78,000. However, the calls are above the $73,000 strike price, with huge volume for the $75,000 and $80,000 strike prices. Also, there is an 85% chance that the options will expire above $77,000.
Bitcoin options trading activity over the past 24 hours has seen higher call volume than put volume, with a put ratio of 0.63. This indicates that traders are betting on a higher Bitcoin price amid hopes US-Iranian peace talks.
Unix Live revealed that implied volatility in Bitcoin relative to key maturities continued to decline this month, with most maturities falling by 1% to 2% to below 40%.
$1.3 billion worth of Ethereum options expiration
More than 575,000 Ethereum options with a notional value of $1.34 billion are set to expire on Deribit, with a call ratio of 0.75. In the last 24 hours, put volume has been much higher than call volume, with a put ratio of 1.17. It shows that traders are bearish and anticipating a downward trend amid the increasing volatility in the cryptocurrency market.
Furthermore, the maximum price for Pain is $2,200, which is lower than the current market price of $2,320 at the time of writing. Higher sell-offs from calls indicate higher odds of ETH price falling, as traders adjust upcoming expirations.
“Ethereum’s 4th maturity rate for key maturities has declined further and is currently around 60%,” Grex Live said.
The price of ETH has fallen by approximately 1% in the past few hours. The 24-hour low and high are $2,287 and $2,359, respectively. Furthermore, trading volume has fallen by more than 20% in the past 24 hours Trump threatens to fire on ships Laying mines in the Strait of Hormuz.
Will XRP rebound to the maximum pain price of $1.45?
Nearly 12,000 XRP options with a notional value of more than $17.25 million are set to expire today. The put ratio is 1, but it rises to 1.57 as the call volume exceeds the call volume.
The maximum pain point is $1.45, which is higher than XRP’s price of $1.43 at the time of writing. However, traders are betting on XRP remaining sideways in the coming days.
Evernorth Holdings has revealed its major shareholders Nearly 11 million XRP were added daily on average in early April. Also, wallets holding 1K-100K coins reached 1.1 million, an all-time high, ahead of the Ripple-sponsored XRP Las Vegas conference.
Bearish position on Solana (SOL)
Over 30,000 SOL options with a notional value of over $26.39 million are expiring, with a very bearish put ratio of 1.81.
In the last 24 hours, call volume has been higher than put volume, with a put-call ratio of 0.78. 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 direction of the crypto market.
Also, the maximum pain point is $89, where traders expect Solana price to fall below $85 in the coming days. SOL price fell from $86.53 to trade nearly 1% lower at $85.64. Trading volume decreased by 11% in the last 24 hours due to the expiration of monthly cryptocurrency market options.
