CandleFocus Nearly $3 Billion in Bitcoin and Ethereum Options Expire Today Amid Mixed Market Sentiment
2024-12-06
Author: Content Editor
Today, $3 billion worth of Bitcoin and Ethereum options are set to expire, leading to anticipation in the crypto market. 23,481 Bitcoin contracts with a value of $2.29 billion are expiring, with a put-to-call ratio of 1.11 and a maximum pain point of $97,000. Analysts note that the overall sentiment in the crypto market remains optimistic, but there are concerns about high funding rates for leveraged contracts and the potential for a market pullback. Ethereum's put-to-call ratio is 0.63, indicating a generally bullish outlook. Bitcoin recently corrected after reaching a local top around $104,000, driven by an overleveraged market and profit-taking. As the options contracts near expiry, prices are likely to draw towards their maximum pain levels, but the impact on the underlying asset's price is expected to be short-term.
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