Bitcoin and Ethereum held firm on a massive options expiry on May 26, according to Deribit data.
Over $2.2 billion worth of options expired on May 26 for Bitcoin. Despite this significant event, the currency held firm above $26,300.
The Bitcoin put-to-call ratio was 0.38, with max pain at $27,000.
While the options on Ethereum saw an options expiry of a notional value of $1.3 billion.
Ethereum had a put-to-call ratio of 0.49, with a max pain price of $1,800.
Looking ahead to June, we anticipate a notional value of over $3B in options expiry, with a max pain price of $24,000. This price is slightly higher than the the notional value is slightly higher than the May expiration.