Over $10B in Bitcoin and Ethereum Options Expired Today: What to Expect

Over $10 billion in Bitcoin and Ethereum options expired today, impacting market sentiment.
Macroeconomic factors and political changes are also influencing cryptocurrency.

Bitcoin’s Big Expiration

the Bitcoin side of things first. The source indicated that a whopping 80,000 Bitcoin options, worth about $8.38 billion, just expired. That’s a pretty big deal, especially when you consider that last week saw only 31,000 Bitcoin options expire after the news of Donald Trump’s crypto executive order. The source explained that this expiry occurred during a pretty shaky week for Bitcoin. It took a tumble down to $97K, then bounced back up to $106K before settling down a bit. As of right now, Bitcoin is sitting at around $104,707 – so it’s been a bit of a rollercoaster. Interestingly, the source revealed that the price bump earlier in the week was tied to announcements from the U.S. and Europe about interest rates. The U.S. Federal Reserve decided to hold steady on rates which caused a small surge and the European Central Bank cut their rate by 25 basis points resulting in another push higher . Although these policies briefly boosted the market, that excitement seems to have faded somewhat

Ethereum’s More Optimistic Outlook

Now let’s switch over to Ethereum! The source reported that 603,000 ETH options expired with a value of about $1.96 billion dollars.. What’s interesting here is that sentiment around Ethereum seems more positive than for Bitcoin as indicated by its Put-Call Ratio.. The source indicated this implies there are more people betting on Ethereum going up rather than down which is always good news! Earlier this week Ethereum almost dipped below $3,000 but has since recovered quite well and is currently trading around $3,353. So even though it had a little scare, it’s up about 4.4% in the last 24 hours! The source explained that while some may have expected Trump’s inauguration to drive up crypto prices, the market has remained fairly neutral. All this just goes to show how interconnected crypto is with broader economic and political events. It’s definitely a market that keeps you on your toes!

See also  Nasdaq files 19b-4 form for 'Canary Litecoin ETF' SEC approval

Source: Bitcoin | Bitcoinethereumnews.com

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