Today marks the expiration of Bitcoin and Ethereum options worth more than $3.1 billion just when the U.S. jobs data is set to be released. The upcoming Bitcoin and Ethereum options expiration date poses the risk of major market volatility because digital currency prices showed significant movements recently.
Bitcoin Options Expiry Details
That total number of 26,000 Bitcoin (BTC) options contracts with a value of $2.5 billion are set to expire today according to Deribit derivative trading data. Presently the trading ratio shows 0.58 between long call contracts and short put contracts. Most traders tend to invest in price rallies instead of anticipating market declines based on current options contract data.
Prices on Bitcoin option contracts with maximum expiring value are established at $99,500. At this price, the highest number of options contracts will become worthless which means traders will incur the greatest financial losses. Trading entities near options expiration dates usually try to adjust prices to achieve the maximum profit level at this time.
Most open interest (OI) in Bitcoin options currently exists at the $120,000 strike price which accumulates to $1.7 billion in value. Analysts expect prices to continue increasing based on their bullish sentiments during the current period of the crypto market decline.
Ethereum Options Expiry Details
Today marks the expiration date of 204,376 Ethereum (ETH) options contracts worth $557.04 million into combined market capital. A majority of these contracts are call options because the put-to-call ratio stands at 0.46.
Ethereum options reach their maximum pain point when the value reaches $2,950. ETH’s price direction during short periods might be influenced by this option expiration activity because currency markets currently face intense selling pressure. The present market adjustment has depressed Ethereum prices to below $2700 thus intensifying doubts about additional price drops.
Market Performance Ahead of Expiry
The current Bitcoin market price stands at $97,386 but shows a reduction of 1.5% from its prior trading day levels. The currency reached $99,167 during daily operations but demonstrated lows at $95,761. The market value of Ethereum stands at $2,741.03 while it demonstrates a 3.9% decrease from the previous session. Bitcoin has traded between $2,669.54 and $2,853.07 throughout the day.
US Jobs Data and Its Influence on Crypto Markets
The upcoming release of the U.S. jobs report, including nonfarm payrolls and the unemployment rate, is expected to provide key insights into the state of the labor market. Analysts believe that these figures could significantly influence financial markets, including cryptocurrencies.
If the jobs data signals a slowdown in the economy, expectations of potential interest rate cuts from the Federal Reserve may rise, leading to increased liquidity in risk markets such as crypto. Conversely, stronger-than-expected employment data could reinforce risk aversion, potentially leading to further declines in Bitcoin, Ethereum, and other digital assets.
Market participants will closely watch these developments as they assess potential trading opportunities amid heightened volatility.
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