Crypto Market Prepares for Options Expiry and Economic Data
- Nearly 30,000 Bitcoin options valued at $2.06 billion are expiring today on Deribit.
- Bitcoin’s max pain price is set at $70,000, with a high likelihood (over 97%) of expiring above $67,500.
- Ethereum options worth $414 million are also expiring, with a max pain price of $2,025.
- XRP options worth $5.16 million have a bearish put-call ratio of 1.33 and a max pain price of $1.40.
- Solana’s max pain price is at $84, currently trading at $83.50 after a more than 4% increase in the last day.
- Over the past day, more than $30 million in Bitcoin short positions were liquidated amid market recovery signs.
Market participants are closely watching the expiry of crypto options alongside key economic indicators such as US PCE inflation data and Q4 GDP figures, which could influence future price movements.
As Bitcoin approaches its max pain price of $70,000 and Ethereum targets $2,025, today’s events may significantly impact market sentiment and trading strategies.(Source)
