Bitcoin and Ethereum Options Expiry Update
Bitcoin Options
Today, a total of 61,000 Bitcoin options expired with a Put Call ratio of 0.62, a Max Pain point of $63,500, and a notional value of $4.1 billion. The current price of BTC is trading above $67,000.
Ethereum Options
Additionally, 490,000 Ethereum options expired with a Put Call ratio of 0.45, a Max Pain point of $3,350, and a notional value of $1.6 billion. The current price of ETH is over $3,200.
The latest reports from Greeks.live reveal the expiration data for Bitcoin and Ethereum options on July 26. Greeks.live also highlighted that this week, the crypto market has entered a correction phase, with the listing of Ethereum ETFs causing a drop in the currency, as expected.
Crypto product trading began on July 23, after the SEC officially approved the S-1 applications for Ethereum ETFs in the US.
Bitcoin and Ethereum Update
As the ETH/BTC rate hits the lowest level in months, major cryptocurrencies are seeing a significant rebound in their Implied Volatilities (IVs). Short-term IVs have notably increased by at least 10% compared to a week ago.
Bitcoin Conference News
News related to the Bitcoin Conference is expected to unfold this weekend. Following today’s monthly delivery, IVs are anticipated to face greater downward pressure in the coming week, according to Greeks.live.
BTC above $67,000 and ETH above $3,250
At the time of writing, Bitcoin is trading above $67,000 amidst a strong wave of optimism stemming from political support. The currency is up over 4% today.
BTC Price
During a recent interview, JFK Jr. revealed his plans to push the federal government to buy Bitcoin until the holdings reach a significant size.
The Value of Ethereum (ETH)
As of today, the price of Ethereum (ETH) is trading at over $3,250, increasing by almost 3% in the last 24 hours. This rise in value comes after a period of fluctuation in the cryptocurrency market.
ETF Outflows for Ethereum (ETH)
ETFs for Ethereum in the US experienced outflows of $152 million on July 25, according to data from SoSovalue. This comes after the first day of entries of nearly $107 million on July 23. The market for Ethereum continues to be volatile, with investors closely monitoring its performance.