Cryptocurrency markets celebrated Bitcoin's fourth halving on April 20th, but the prices of Bitcoin and cryptocurrencies did not show any major gains or significant gains. Traders are actually waiting for the first crypto market expiry after the Bitcoin halving, which is also a monthly expiry and could lead to more volatility.Deribit reported $9.4 billion The crypto option expiration date is set for this Friday.
$9.4 Billion Crypto Options Expiring
Overall optimism after the Bitcoin halving remains bullish, with investors keeping the Bitcoin price above $66,000. As the sentiment of the cryptocurrency market, fear and greed index Market participants are waiting for headwinds to dissipate before taking new positions, as sentiment has increased from 57 (neutral) to 72 (greedy).
that's all 94,000 Bitcoin options, $6.3 billion The notional amount is set to expire on Friday. The put-call ratio is 0.68, indicating that put options have increased recently as the monthly expiration approaches. The biggest problem is the $61,000 price tag, which is below the current price. The market is expected to experience significant volatility as prices are expected to fall on the expiration date.
moreover, 941k Ethereum options Notional amount of $3.1 billion is set to expire and has a put-call ratio of 0.49. The maximum pain point is $3,100 and ETH price is currently trading above the maximum pain point and higher than the current price of $3,252.
Trading over the past 24 hours shows an increase in put open interest, with a put/call ratio of 0.84. Prices can fall to maximum paint points.
Specifically, Deribit revealed the following in a post about X: realized volatility The stock price soared as the BTC Volatility Index (DVOL) rose sharply as crypto option expiration approached.
Additionally, on-chain analysts IT technology warns of the possibility of short-term liquidations due to high leverage. He said CVD Perp is showing more sell orders filled, while CVD Spot is showing early signs of demand. This increases the likelihood of a significant recovery in BTC price.
Also read: Glassnode founder predicts Bitcoin to return to $72,000 soon
Bitcoin price performance
BTC price movement over the past 24 hours remains volatile, with the price currently trading around $66,500. The 24-hour low and high prices are $65,864 and $67,148, respectively. Additionally, trading volume has decreased slightly over the past 24 hours.
Total open interest in Bitcoin futures across crypto exchanges has increased by more than 1% in the past 24 hours, with buying mainly concentrated in the past few hours. BTC futures OI of 480.07K is worth $31.96 billion.
The new whale accumulated 500 BTC worth $33 million during the consolidation as BTC price could reach $500,000. but, US PCE inflation Data is also expected to be released on Friday, with trading activity remaining flat.
us dollar index (DXY) was slightly below 106, but still high compared to the previous week. Also, US 10-year Treasury yield (US10Y) rose to a six-month high of 4.636%, putting pressure on Bitcoin prices.
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