Bitcoin and Ethereum Options Worth $5.28B Expire as Traders Brace for Election Volatility

• $5.28 billion in Bitcoin and Ethereum options expired on October 25.
• Bitcoin shows bullish sentiment with a Put/Call Ratio of 0.66, while Ethereum faces challenges with a near-even split at 0.97.
• Traders are optimistic about Bitcoin surpassing $80,000 as election dynamics unfold.

On October 25, options worth $5.28 billion for Bitcoin and Ethereum expired, prompting traders to prepare for potential volatility ahead of the U.S. elections. Data from GreekLives indicates that Bitcoin is showing signs of strength in recent highs, while Ethereum is grappling with its lowest prices since 2021.

A total of 63,000 Bitcoin options expired on October 25, with a Put/Call Ratio of 0.66, indicating a stronger preference for call options and reflecting bullish market sentiment. The Max Pain point, where most options expire worthless, was set at $64,000, suggesting that traders expect Bitcoin to hover around this level.

With a notional value of $4.26 billion, Bitcoin’s performance remains solid as market participants look ahead to upcoming events, including the U.S. elections, which are expected to drive further market volatility.

Ethereum Faces Bearish Pressure

In contrast, Ethereum’s outlook is more challenging. A total of 403,000 ETH options expired with a Put/Call Ratio of 0.97, reflecting a near-even split between bullish and bearish sentiment. The maximum pain point of $2,600 indicates that Ethereum is trading near lower expectations, continuing its struggle to recover from yearly lows.

The notional value of expired Ethereum options was $1.02 billion, significantly lower than that of Bitcoin.

Crypto Market Ahead of U.S. Elections

As the November U.S. elections approach, traders are preparing for increased volatility in the cryptocurrency markets. Bitcoin’s Implied Volatility (IV) for November 8 is currently at 55%, signaling that traders expect notable price movements around the election results.

Earlier this week, Bitcoin nearly reached $70,000 amid close polling between Donald Trump and Kamala Harris. According to Bloomberg, traders are betting on Bitcoin potentially surpassing $80,000 in November, regardless of the election outcome. Trump’s support for cryptocurrency and Harris’s moderate stance on regulation are viewed as positive indicators for market growth.

Additionally, data compiled by Deribit reveals that open interest for call contracts expiring in November is concentrated around $80,000, while options expiring on December 27 are seeing bets around the $100,000 mark. These figures suggest strong optimism for Bitcoin’s price potential in the coming months.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.