Be cautious with Bitcoin and Ethereum today: the classic options market faces an earthquake day! — What do the data show: is the bear market continuing?
The conflict between the USA and Iran continues to impact Bitcoin and altcoins. Bitcoin, which recently rose to $76,000, has once again tested the $65,000 level amid escalating tensions in the conflict.
While everyone is wondering when the war will end and whether the decline will continue, the time for the expiration of options contracts on the cryptocurrency market has arrived, as it does every Friday.
According to weekly data, on April 3, Deribit will experience the expiration of cryptocurrency options worth approximately $2.1 billion.
According to Deribit data, the expiration includes options on Bitcoin ($BTC) worth $1.8 billion and Ethereum ($ETH) options worth $320 million.
Thus, the put/call ratio for Bitcoin options is 0.54, the maximum loss is $68,000, and the intrinsic value is $1.8 billion.
For Ethereum, options on $ETH have a put/call ratio of 0.73, a maximum stop-loss at $2,075, and a nominal value of $320 million.
According to Greeks.live analyst Adam, today marks the expiration of the first weekly bond after the first three-month bond expiration.
The analyst noted that Bitcoin options have reached a new peak, exceeding 80% of market share, with options expiring at the end of April and June being the most frequently used.
On the other hand, there is a concentration of Ethereum option transactions with an expiration date in June.
However, according to the analyst, the market remains relatively weak. After a slight recovery, it quickly fell to $66,000.
Additionally, the analyst pointed out that activity in the cryptocurrency market remained sluggish, with typical signs of a bear market still evident.
In conclusion, the analyst noted that Bitcoin showed the worst results in the first quarter of this year both in price and trading volume. He also pointed out weak indicators in the first week of the second quarter, stating that restoring market confidence and price growth would require time and capital inflows. However, at the moment, all indicators point to a bear market.
See also: "Bittensor Breaks Out of Range and Pulls AI Tokens Upward"
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