{"id":606460,"date":"2024-05-09T17:00:48","date_gmt":"2024-05-09T17:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=606460"},"modified":"2024-06-11T09:07:14","modified_gmt":"2024-06-11T09:07:14","slug":"crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead\/","title":{"rendered":"Crypto Countdown: $2.4B In Bitcoin and Ethereum Options Set To Expire, Market Volatility Ahead?"},"content":{"rendered":"

As the clock ticks closer to the end of today, May 3, the cryptocurrency market braces itself for potential upheavals, with roughly $2.4 billion worth of Bitcoin and Ethereum options set to expire<\/a>.<\/p>\n

This significant event could catalyze notable shifts in market dynamics, steering the trajectory of Bitcoin and Ethereum prices in the near term.<\/p>\n

Notably, Options contracts in the crypto sphere allow traders to hedge against<\/a> price volatility or speculate on future price movements without directly holding the assets. Typically structured as either calls or puts, these contracts enable buying (call) or selling (put) at predetermined prices within a specified timeframe.<\/p>\n

Related Reading: Bitcoin\u2019s Make-Or-Break Moment: Trading Guru Predicts Rally Amid Market Uncertainty<\/a><\/div>\n

As the expiry date approaches, movements within these contracts tend to introduce heightened volatility into the market, given the adjustments traders make to hedge their positions or capitalize on anticipated price movements.<\/p>\n

Market Mechanics And Sentiment Indicators<\/h2>\n

The mechanics of options trading offer insights into market sentiment, primarily through analyzing the put\/call ratio. This ratio gauges the market’s bullish or bearish stance, depending on whether the volume of call options (betting on price rises) outweighs put options (betting on price drops) or vice versa.<\/p>\n

Presently, the put-to-call ratio for Bitcoin stands at a relatively low 0.5, suggesting a bullish sentiment<\/a> as more traders bet on rising prices with the maximum pain point\u2014a price level causing maximum trader losses\u2014at about $61,000 and a notional value of $1.4 billion.<\/p>\n

\"Bitcoin
Bitcoin Open Interest by Strike price. | Source: Deribit<\/a><\/figcaption><\/figure>\n

In contrast, Ethereum’s options market is also teeming with activity, marked by the upcoming expiry of contracts valued at around $1 billion. With a put-to-call ratio of 0.37, the sentiment leans even more bullish than Bitcoin, indicating stronger trader confidence\u00a0<\/a>in Ethereum’s price performance.<\/p>\n

Ethereum’s designated maximum pain point sits at $3,000, aligning with key psychological and technical support levels.<\/p>\n

\n

May 3 Options Data
\n23,000 BTC options are about to expire with a Put Call Ratio of 0.49, a Maxpain point of $61,000 and a notional value of $1.4 billion.
\n330,000 ETH options are due to expire with a Put Call Ratio of 0.36, Maxpain point of $3,000 and notional value of $1\u2026 pic.twitter.com\/mEA4PV98C3<\/a><\/p>\n

\u2014 Greeks.live (@GreeksLive) May 3, 2024<\/a><\/p><\/blockquote>\n

Implications And Bitcoin Insights<\/h2>\n

Historically, the expiration of such a voluminous cache of options has precipitated abrupt price fluctuations<\/a> in the spot markets for Bitcoin and Ethereum. This is attributed to the large-scale repositioning by institutional and retail investors in anticipation of or in response to the expiry outcomes.<\/p>\n

Related Reading: Bitcoin Hits \u2018Danger Zone\u2019: Peter Schiff Warns Of \u2018Do or Die\u2019 Scenario<\/a><\/div>\n

These strategic movements are particularly pivotal when both cryptocurrencies recover from recent pullbacks. GreeksLive noted:<\/p>\n

The current point of sustained sideways trading is unlikely, no rebound is bound to be a downward relay, the giant whale on the lack of confidence in the market, Block trading is worth strengthening attention.<\/p><\/blockquote>\n

Meanwhile, Bitcoin appears to be recovering from the recent downturn with a 5.4% increase in the past day, momentarily piercing the $60,000 mark, signaling a potential resumption of its upward march.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Similarly, Ethereum has shown resilience, climbing above the $3,000 threshold with a modest 3% gain. These upticks coincide with broader market analyses like that of Marco Johanning, a well-known crypto analyst and founder of The Summit Club, suggesting that foundational bullish sentiments remain intact despite recent corrections.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As the clock ticks closer to the end of today, May 3, the cryptocurrency market braces itself for potential upheavals, with roughly $2.4 billion worth of Bitcoin and Ethereum options set to expire. This significant event could catalyze notable shifts in market dynamics, steering the trajectory of Bitcoin and Ethereum prices in the near term. Notably, Options contracts in the crypto sphere allow traders to hedge against price volatility or speculate on future price movements without directly holding the assets. Typically structured as either calls or puts, these contracts enable buying (call) or selling (put) at predetermined prices within a specified timeframe. Related Reading: Bitcoin\u2019s Make-Or-Break Moment: Trading Guru Predicts Rally Amid Market Uncertainty As the expiry date approaches, movements within these contracts tend to introduce heightened volatility into the market, given the adjustments traders make to hedge their positions or capitalize on anticipated price movements. Market Mechanics And Sentiment Indicators The mechanics of options trading offer insights into market sentiment, primarily through analyzing the put\/call ratio. This ratio gauges the market’s bullish or bearish stance, depending on whether the volume of call options (betting on price rises) outweighs put options (betting on price drops) or vice versa. Presently, the put-to-call ratio for Bitcoin stands at a relatively low 0.5, suggesting a bullish sentiment as more traders bet on rising prices with the maximum pain point\u2014a price level causing maximum trader losses\u2014at about $61,000 and a notional value of $1.4 billion. In contrast, Ethereum’s options market is also teeming with activity, marked by the upcoming expiry of contracts valued at around $1 billion. With a put-to-call ratio of 0.37, the sentiment leans even more bullish than Bitcoin, indicating stronger trader confidence\u00a0in Ethereum’s price performance. Ethereum’s designated maximum pain point sits at $3,000, aligning with key psychological and technical support levels. May 3 Options Data 23,000 BTC options are about to expire with a Put Call Ratio of 0.49, a Maxpain point of $61,000 and a notional value of $1.4 billion. 330,000 ETH options are due to expire with a Put Call Ratio of 0.36, Maxpain point of $3,000 and notional value of $1\u2026 pic.twitter.com\/mEA4PV98C3 \u2014 Greeks.live (@GreeksLive) May 3, 2024 Implications And Bitcoin Insights Historically, the expiration of such a voluminous cache of options has precipitated abrupt price fluctuations in the spot markets for Bitcoin and Ethereum. This is attributed to the large-scale repositioning by institutional and retail investors in anticipation of or in response to the expiry outcomes. Related Reading: Bitcoin Hits \u2018Danger Zone\u2019: Peter Schiff Warns Of \u2018Do or Die\u2019 Scenario These strategic movements are particularly pivotal when both cryptocurrencies recover from recent pullbacks. GreeksLive noted: The current point of sustained sideways trading is unlikely, no rebound is bound to be a downward relay, the giant whale on the lack of confidence in the market, Block trading is worth strengthening attention. Meanwhile, Bitcoin appears to be recovering from the recent downturn with a 5.4% increase in the past day, momentarily piercing the $60,000 mark, signaling a potential resumption of its upward march. Similarly, Ethereum has shown resilience, climbing above the $3,000 threshold with a modest 3% gain. These upticks coincide with broader market analyses like that of Marco Johanning, a well-known crypto analyst and founder of The Summit Club, suggesting that foundational bullish sentiments remain intact despite recent corrections. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":518350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,6664,10923,92215,91626,8323,1946],"class_list":["post-606460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-crypto-options","tag-crypto-options-traders","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nCrypto Countdown: $2.4B In Bitcoin and Ethereum Options Set To Expire, Market Volatility Ahead?<\/title>\n<meta name=\"description\" content=\"As the clock ticks closer to the end of today, May 3, the Bitcoin and Ethereum market braces itself for potential upheavals, with roughly...\" \/>\n<meta name=\"robots\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Countdown: $2.4B In Bitcoin and Ethereum Options Set To Expire, Market Volatility Ahead?","url":"http:\/\/wncen.com\/news\/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto","crypto market","crypto options","crypto options traders","eth","ethereum"],"dateCreated":"2024-05-09T17:00:48Z","datePublished":"2024-05-09T17:00:48Z","dateModified":"2024-06-11T09:07:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Countdown: $2.4B In Bitcoin and Ethereum Options Set To Expire, Market Volatility Ahead?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-1-scaled.jpg?fit=2560%2C1854\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\",\"crypto market\",\"crypto options\",\"crypto options traders\",\"eth\",\"ethereum\"],\"dateCreated\":\"2024-05-09T17:00:48Z\",\"datePublished\":\"2024-05-09T17:00:48Z\",\"dateModified\":\"2024-06-11T09:07:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606460"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606460"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/518350"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}