Crypto Market Faces Major Correction Ahead of $16B Options Expiry
- Over $1.2 billion in long positions were liquidated as Bitcoin, Ethereum, XRP, and other altcoins fell significantly.
- The total market cap saw a decline of $200 billion amid the latest crypto crash.
- More than $16 billion in notional value for Bitcoin and Ethereum options is set to expire soon.
- BTC options data shows a put-call ratio of 1.35, indicating traders are hedging against potential downside.
- ETH’s put volume has doubled recently, with a put-call ratio of over 2, reflecting bearish sentiment among traders.
The upcoming options expiry on October 31 is critical as it may influence market dynamics significantly. With institutional interest fluctuating and recent outflows from spot Bitcoin and Ethereum ETFs, traders are closely monitoring these developments.
As over $13 billion in BTC options and nearly $2.5 billion in ETH options approach expiry, market participants are preparing for potential volatility.(Source)
