Crypto Options Expiryworth $4.3B Today: Its Impact on Spot Markets
In the past few days, the cryptocurrency market has seen significant movements and developments. Bitcoin, the leading digital asset, has been on a steady climb. On Thursday, Bitcoin inched toward $118,000 in late trading, putting it just 5.6% away from its all-time high. The total Bitcoin futures open interest (OI) currently stands at $86 billion, approaching all-time highs, according to CoinGlass. Interestingly, the $120,000 strike price boasts an OI of around $2.2 billion, but the $95,000 strike price is popular among short sellers, with $2 billion in OI. The Bitcoin options expiry this week is close to last week's, reducing the likelihood of any significant impact on spot markets, which have moved higher this week. Around 30,000 Bitcoin options contracts are set to expire on September 19, with a notional value of approximately $3.5 billion. Ethereum, the second-largest cryptocurrency, has held steady around the $4,600 level for the past 24 hours. It is 7% away from its all-time high. Today, around 177,500 Ethereum contracts are expiring, with a notional value of $815 million. The put/call ratio for Ethereum options contracts is 1, indicating more short contracts expiring than longs, suggesting increasing bearish speculation. The rest of the high-cap alts remain flat in today's trading. However, Hyperlink (HYPE) and Binance Coin (BNB) have hit all-time highs this week. Recent actual volatility has been substantial, showing a significant increase compared to last month, according to crypto derivatives provider Greeks Live. This volatility, coupled with a decline in trading volume, has been observed by Greeks Live earlier this week. Despite the substantial volatility, actual trading volume has declined instead, causing a divergence between volatility levels and trading volume. The US Federal Reserve's first rate reduction of the year has been largely priced in by markets, causing a minor dip this Friday morning. In the altcoin market, Chainlink, Avalanche, and Sui are today's top performers. It's important to note that the specific details regarding who purchased the Bitcoin options contracts with a notional value of around $3.5 billion on Friday, September 19, are not publicly available. The total crypto market capitalization remains near peak levels at $4.2 trillion. This news update provides a snapshot of the current state of the cryptocurrency market. As always, it's crucial to conduct thorough research before making any investment decisions.
Read also:
- Trump and Xi speak over the phone, according to China's confirmation.
- Prices of transit tickets in Berlin and Brandenburg are on the rise
- Linde Wins Major Engineering Design Contract for Equinor's Low Carbon Hydrogen Project at H2H Saltend, Progressing Towards a Greener Future
- Economic Growth of Nitric Acid for Electronic Applications Anticipated to Reach 5.8% by 2034
