Bitcoin and Ethereum Options Set to Expire: Traders on High Alert

• Bitcoin and Ethereum options expiry impending amidst market uncertainty.
• BlackRock’s Bitcoin ETF records zero inflows for consecutive days.

As the expiration date approaches for significant Bitcoin (BTC) and Ethereum (ETH) options contracts, the cryptocurrency market braces for potential volatility. With 96,000 BTC options and 990,000 ETH options set to expire, valued at $6.2 billion and $3.1 billion respectively, traders are closely monitoring market dynamics.

The Put Call Ratio stands at 0.68 for BTC and 0.51 for ETH, indicating prevailing sentiment towards these assets. Furthermore, the Maxpain point for BTC sits at $61,000, while for ETH it’s at $3,100, reflecting the price levels where the least amount of options contracts would expire worthless.

Despite recent fluctuations, Bitcoin is currently trading at $64,126.48, marking a modest 0.47% increase. However, trading volume has declined by 9%, signaling decreased market activity. Notably, BlackRock’s spot Bitcoin ETF has experienced two consecutive days of zero inflows, with total outflows reaching $338.2 million.

Market analysts remain divided on the impact of upcoming events, such as the Hong Kong ETF debut and potential institutional demand. While some anticipate increased interest, others like pseudonymous analyst Kamikaze Fiat underscore the substantial inflows required to drive significant price movements.

With Q2 ETF inflows at $170 million as of April 24th, the market awaits further developments amidst ongoing uncertainty and shifting investor sentiment