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2.4 billion Bitcoin and Ethereum options contracts expire today. How will markets be affected?

Prepare Digital Currency Market There is an important event today, Friday May 3, 2024, related to the expiration of options contracts worth a total of approximately $2.4 billion split between Bitcoin and Ethereum currencies. Questions are being asked about the repercussions of this situation on the prices of the two main digital currencies on the market.

Approximately $1.39 billion worth of Bitcoin options contracts expire today. This lot is significantly lower than the 96,000 contracts settled last week.

Bitcoin faces $61,000 max problem as options expire

Today, May 3, 23,367 Bitcoin contracts worth $1.39 billion are set to expire. According to Deribit data, the put/put ratio is 0.50, known as the maximum pain point (the price that will result in the most losses for holders). Options contracts) at a price of $61,000.

Bitcoin options expiry.
Bitcoin options expiry. Source: drip, a cryptocurrency derivatives data analysis platform, highlighted the current situation of the cryptocurrency market in Tweeter On Twitter:

“Bitcoin and the cryptocurrency market as a whole are still... Suffering from deep decline while April recorded the biggest monthly losses in almost a year, the Dvol went directly from 74% to 55% this week, and expectations of volatility on the markets are falling very quickly (...) Short term, the IV and the low the price can be chosen and start buying True and profitable options now.

In addition to Bitcoin, options contracts on Ethereum, worth a total of around $1 billion, are expiring, with a bid/call ratio of 0.36. According to analysts, markets expect Ethereum to stabilize around $3,000 as contracts expire.

Despite the sharp correction seen in recent days, the global cryptocurrency market saw an increase of 4% in the last 24 hours, bringing the total market capitalization to $2.32 trillion, according to For the data CoinGecko.

Recently he recorded Bitcoin Price A sharp drop that pushed it below $57,000. However, it has now rebounded and is trading within the $59,324 range. For his part, he testified Ethereum Price Up 1.5% to trade at $3,003.

However, it should be remembered that the effect of the expiration of options contracts on the price of the underlying asset is generally short-lived. Typically, the market will return to normal the next day and compensate for large price differences.

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