#BTCUptober Bitcoin And Ethereum Options Expiry Unleashes $1.35 Billion Market Movement

Bitcoin and Ethereum options expiries unleash $1.35 billion, setting the stage for a pivotal Q4 in the crypto market amid global trends.

$BTC Data from Greeks.Live details the expiring options for Bitcoin and Ethereum, showcasing the prevailing sentiment and positioning among traders.

The expiration of 17,500 Bitcoin options reflects a complex sentiment landscape among investors. With a Put Call Ratio of 0.75 and a max pain point set at $63,000, the figures suggest a tilt toward a more protective stance among participants. Bitcoin has experienced a surge, climbing 1.39% in the past 24 hours to reach $61,167 as of press time, a movement potentially influenced by these expirations.

Meanwhile, the notional value of these options is a significant $1.07 billion. As these options expire, the attention remains on the potential shifts in strategy, particularly in response to global financial trends and the nearing U.S. elections.

Bitcoin’s open interest dynamics show a lower PCR of 0.49, with 166,364 calls to 81,448 puts. As we approach another expiry date on October 25, where 21.84% of open interest is focused, market watchers anticipate potential volatility spikes. This observation aligns with the broader expectation of a year-end rally, bolstered by historical fourth-quarter performances.

$ETH Ethereum Options Signal Bullish Surge

Ethereum options, with a recent expiry involving 119,000 contracts, tell a story of burgeoning confidence. The PCR here stands at 0.68, leaning towards calls, with a max pain threshold at $2,500 and a notional value of $280 million. The substantial open interest of 1,068,323 calls compared to 535,556 puts for Ethereum reinforces a bullish outlook in contrast to Bitcoin’s cautious optimism.

This sentiment is even more pronounced for Ethereum’s upcoming major maturity at the end of December, capturing 34.68% of the total open interest.#BTCUptober