The most recent market data released by Greeks.live, a trading tools solution provider for crypto option investors, shines a light on the details of Bitcoin (BTC) and Ethereum (ETH) options set to expire on December 1st. The data offered by the platform reflects Blockchain measurements for the two most significant cryptocurrencies, Bitcoin and Ethereum, which has garnered great interest from crypto enthusiasts. Additionally, the data points to a maximum profit spot for BTC and ETH, sparking speculation across the cryptocurrency market.
Impending Expiry of Bitcoin and Ethereum Options
Data provided by Greeks.live indicates that Bitcoin options, consisting of 29,000 BTC, are set to expire on December 1st. The Put Call Ratio at 0.58 increases the complexity of the crypto market dynamics, indicating a very intricate balance between put and call options.
Furthermore, the strategically positioned max pain point for BTC at $37,000 highlights the importance of the expiring options by providing insights into market pressure and investor sentiment. The collective nominal value of Bitcoin options reaching $1.13 billion signals increasing volatility and significant financial risks in the crypto market.
Additionally, Ethereum options expiring on the same date have a Put Call Ratio of 0.49 and a max pain point of $2,100. This situation provides insights into investor sentiment and indicates rising volatility for ETH as well. Moreover, the impending expiration of options with a cumulative nominal value of $470 million underlines the importance of closely monitoring this side of the Ethereum market.
When examining option data, this week’s primary transactions revolve around calls, with a low Put Call Ratio suggesting max pain points are near the strike price. As the recent rally that boosted the overall crypto market loses momentum, the skewness level in options gradually decreases, hinting at a potential short-term negative trend due to the reduced excitement over the possible approval of at least one spot Bitcoin ETF in the US.
CEO and founder of MN Trading and crypto analyst Michael Van de Poppe recently stated that the crypto market is in a consolidation phase and, despite Bitcoin not crossing the $38,000 threshold, it presents significant opportunities. According to the analyst, if the largest cryptocurrency continues its price pattern of higher lows and higher peaks, it may soon experience a significant breakout.
Current Price Situation of BTC and ETH
The largest cryptocurrency, BTC’s price has seen a decrease of 1.21% in the last 24 hours, trading at $37,734. The crypto king’s price has made a slight jump of 0.62% over the past week, while gaining nearly 10% in value over the past 30 days.
The price of ETH has also fallen by 1.21% in the last 24 hours, trading at $2,032. The biggest altcoin’s price has decreased by 2.07% over the past week but has increased by 12.23% over the past 30 days.
- Market data indicates significant options expiries.
- Investor sentiment and market volatility are key focuses.
- Analysts suggest potential for notable crypto breakouts.