Bitcoin (BTC), Ethereum (ETH) Prices To Rally After Options Expiry?

Bitcoin (BTC) and Ethereum (ETH) prices slipped slightly despite options expiry and selloff by whales, indicating that traders are ready for upside momentum.

Crypto analysts are bullish on BTC to hit new ATH this month and rally as high $137K on bull flag breakout.

Meanwhile, analysts eye ETH to reclaim above $3,000, amid strong inflows into Ethereum ETF and buying by companies and institutional investors.

$3 Billion in Bitcoin Options Set to Expire

Over 27.5K BTC options with a notional value of $3 billion are set to expire. The max pain price was at $106K, indicating a high chance of correction in BTC price.

Traders may adjust their positions, which can lead to increased volatility. Moreover, the put-call ratio was higher at 1.06 at the time of writing.

It suggested a bearish sentiment among traders as puts outpace calls. However, the put-call ratio was comparatively lower at 0.54 in the last 24 hours.

Bitcoin price was down 1% at $108,800 at the time of writing, indicating that bulls were bullish on further upside momentum in BTC price as they held above the max pain level strongly.

The 24-hour low and high were $108,617 and $110,541, respectively. Furthermore, trading volume was down by more than 23% over the last 24 hours.

$0.6 Billion Ethereum Options Expiry

237K ETH options with a notional value of $0.6 billion are expiring today. Also, the max pain price was at $2,500, indicating that selling pressure could rise on ETH as traders exit or get liquidated.

Moreover, the put-call ratio was significantly higher at 1.26 at the time of writing. It suggests a bearish sentiment among traders as puts dominate calls. The put-call ratio was 0.49 in the last 24 hours.

Ethereum (ETH) price was trading at $2,550, down more than 1% in the last 24 hours. The 24-hour low and high were $2,529 and $2,635, respectively. Furthermore, trading volume was down by more than 35% over the last 24 hours.

Notably, Deribit in a post on X said liquidity got drained at quarter-end, but it has returned this month. That return of capital could be the catalyst that finally lets crypto catch up to equities.

Crypto Analysts Bullish on Bitcoin (BTC) and Ethereum (ETH) Price

As reported by The Coin Republic, many notable analysts, including 10x Research, Peter Brandt, and Titan of Crypto are bullish on Bitcoin due to a bull flag pattern breakout and strong inflow into Bitcoin ETFs.

This could send Bitcoin price to above $135K in the coming months. Matrixport reported that July has historically favored Bitcoin and set $116K as the initial target.

An upside move in Bitcoin is important to confirm bullishness, as evident from Bitcoin ETF inflow and rising corporate Bitcoin holdings.

Popular analyst Ali Martinez, in a post on X on July 4, revealed that over $30.5 million in short positions could be liquidated if Bitcoin breaks above $111,000. This would confirm a rally above $112K.

Meanwhile, Ethereum also showed signs of an upcoming rally amid increased adoption from institutions.

Analyst Michael van de Poppe mentioned that the Ethereum (ETH) price broke through the resistance. If ETH holds above $2,500, the analyst predicted rally to $3,000.

Moreover, analyst Ted Pillows revealed that Ethereum is making a higher low. “Holding $2,500 would be the perfect resistance/support flip for Ethereum,” he said.

Pullbacks in Bitcoin and Ethereum (ETH) prices were temporary due to liquidations of traders. The buying could probably begin again after options delivery.

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