Ethereum

bullish

Bitcoin

when

Billion

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Roughly $2.1 billion worth of Bitcoin options are <a href="https://x.com/WuBlockchain/status/1867396409898762290" rel="noopener noreferrer nofollow">on track</a> to expire this Friday, according to crypto options trading platform
The put-call ratio, which compares the total volume of call options to put options, currently stands at 0.83. This indicates that bulls currently have the upper hand given that call options outnumber put options.
The options have a max pain point of $98,000, meaning that the biggest number of options are set to expire worthless at this specific level.
On top of that, $640 million worth of Ethereum (ETH) options are set to expire as early as today. Traders are seemingly more bullish on Ethereum than Bitcoin, with the put-call ratio standing at 0.83. Notably, $3,700 appears to be the most important level for bulls and bears.
Bitcoin is currently trading slightly above the $100,000 level while Ethereum (ETH) is changing hands at $3,920.
According to Greeks.live, market makers are currently in the process of repositioning their portfolios during the Christmas season when trading volumes tend to drop significantly. US equities could end up experiencing stronger volatility due to reduced liquidity. Traders are expecting sharper movies based on increasing implied volatility (IV).
Furthermore, the platform has noted that the influence of the U.S. stock market on crypto prices is becoming more pronounced. Hence, cryptocurrencies could also succumb to volatility in tandem with stocks.
Hence, many traders are using options as a tool for hedging against volatile price movies during this holiday season. <a href="https://u.today/21-billion-worth-of-bitcoin-options-about-to-expire" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

$2.1 Billion Worth of Bitcoin Options About to Expire

U_Today

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