Around 149000 Bitcoin options contracts are set to expire this Friday July 31 carrying a notional value near 957 billion 🖤 This expiry hits harder than typical month ends potentially sparking some spot market volatility 🌑 Crypto markets eased back a touch this week as nearly 25 billion slipped away after the Fed held rates steady and tensions flared again between the US and Iran ✨
Bitcoin Options Expiry Frenzy 🦇
This batch shows a put call ratio of 028 with way more call contracts than puts lining up Max pain sits near 64000 right around current spot so plenty will finish in the money 🎀 Open interest stays heaviest at the 70000 and 72000 strikes on Deribit holding 24 billion each while shorts hold 13 billion at 60000 Total BTC options OI across exchanges climbed to 347 billion per Coinglass 🕸️
“Overall macro and risk asset signals remain cautious BTC continues to face short term pressure with market stabilization and renewed capital inflows being key signals to watch” said Deribit this week
“This creates massive liquidity and volatility making it one of the best days to trade short dated options” the exchange added
Besides today’s BTC batch some 433000 Ethereum contracts expire worth 825 million with max pain at 1800 and put call ratio of 059 Total ETH options OI lingers lower near 54 billion 💀 This pushes overall crypto options expirations to around 104 billion a hefty event
Spot Market Outlook Vibes 💀
Crypto markets edged up slightly Friday morning with total capitalization brushing 23 trillion again yet the week brought gradual losses 🖤 Bitcoin touched 65000 intraday early Friday only to get rejected and settle at 64325 at writing time The asset lingers in consolidation over the past two months
The asset remains in consolidation where it has been for the past two months “BTC is at its lowest weekly volatility in two years” observed analyst ‘Daan’
Ether prices stay squeezed in a tight range lately hovering near 1900 ✨
Just another echo from the void by iconofsin.eth 💖
