Amid a week of strong volatility in the crypto market, $2.5 billion worth of Bitcoin options and Ether options will be expiring today amid a tight fight between the bulls and the bears. Both the assets – BTC and ETH – have been showing major strength gaining 7% and 10% respectively.,As per the data from Deribits, a total of 32,000 Bitcoin options contracts are set to expire today with a put call ratio of 0.71. The notional value of the expiry is $1.943 billion while the max pain point of $60,000.,The Yen rate hike last week induced severe volatility in the crypto market with the Bitcoin price dropping under $50,000 earlier on Monday. However, the Bank of Japan suggested a softer stand going ahead if the market instability escalates. This led to a strong recovery in the last four days, with BTC surging sharply by 20% currently trading at more than $61,000 levels.,Also, the implied volatility has decreased to a great extent but still remains higher than the pre-crash levels. The ongoing market volatility makes it challenging for IVs to decline rapidly over a short period.,The Grayscale Research report notes that if the US economy avoids recession and manages a “soft landing,” the token valuations can rebound with Bitcoin testing its all-time high levels by the end of the year. Besides, the report also noted that there is little tolerance for a deep economic recession and the Fed could pivot soon to rate cuts on the first sight of trouble.,Also Read: CBOE Resubmits Bitcoin ETF Options Trading Application, Q4 Approval Likely?,A total of 206,000 ETH options are set to expire today with a put-call ratio of 0.96, a notional value of $560 million, and a max pain point of $2,950. The put-call ratio close to 1 shows that it’s a tight fight between the bulls and the bears.,In the last 24 hours, the Ethereum price has witnessed a strong rebound jumping 10.70% and shooting at the way to $2,700. As per the technical charts, ETH can further extend a rally to $2,820.,,The Ethereum ETFs were showing major strength during the market collapse, however, have been seeing outflows as the market revived in the last two days.,
https://coinniu.com/32000-bitcoin-options-set-to-expire-amid-strong-btc-recovery/
