$1.34 Billion Worth of BTC Options Expire Today, Maximum Pain Point at $58,000
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September 13, 2024
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Mars Finance News: September 13th
BTC Options:
- 23,000 BTC options expire today.
- Put Call Ratio: 0.87
- Maximum Pain Point: $58,000
- Notional Value: $1.34 Billion
ETH Options:
- 127,000 ETH options expire today.
- Put Call Ratio: 0.73
- Maximum Pain Point: $2,400
- Notional Value: $298 Million
Analysis:
- The overall cryptocurrency market has rebounded this week, while market volatility expectations have declined.
- The Maximum Pain Point has once again caught up with the price.
- As expectations for a 25 basis point rate cut by the Federal Reserve next week converge, implied volatility (IV) has declined across major tenors.
- September has been weak as expected, especially for ETH, which has fallen below the long-term support level of 0.04 against BTC.
- BTC still appears to be the driving force behind the next bull run.
Source
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