Bitcoin & Ethereum Options Data Indicates Roadblock Ahead

According to recent market data unveiled by Greeks.live, a trading tools solution provider for crypto options traders, the platform displayed options data for BTC and ETH for December 1.

The data released by the platform sparked immense curiosity among crypto market enthusiasts as the data showcased blockchain metrics for two of the most significant cryptocurrencies, Bitcoin and Ethereum.

Furthermore, the data pointed out a maxpain point for BTC and ETH, stirring up speculation within the broader crypto market.

Options Data Details Unveiled

As disclosed by Greeks.live, the impending expiration of 29,000 Bitcoin (BTC) options reveals a complex financial landscape. Moreover, the Put Call Ratio, standing at 0.58, intricately indicates the balance between put and call options, contributing an additional layer of complexity to crypto market dynamics.

Besides, the Maxpain point for BTC, strategically positioned at $37,000, provides insights into potential market pressures and investor sentiments, enhancing the understanding of the forthcoming developments. However, notably, the collective notional value of these options reached a substantial $1.13 billion, emphasizing the considerable financial stakes and the potential repercussions for the broader cryptocurrency market as this expiration event unfolds.

In addition, shifting the focus to Ethereum (ETH), its options landscape unfolds a Put Call Ratio of 0.49, along with a strategic Maxpain point at $2,100. This configuration sets the stage for possible market fluctuations, reflecting the dynamics of investor sentiments. Moreover, the cumulative notional value of $470 million further accentuates the impending expiration’s significant financial implications for the broader Ethereum market.

However, crypto volatility levels have experienced a notable decline this week. Despite Bitcoin hitting the $38,000 mark thrice after the monthly delivery last week, it failed to maintain stability.

Examining options data reveals a low Put Call Ratio, indicating that this week’s primary trades have revolved around calls, with Maxpain points in proximity to the strike price. As the rally loses momentum, the options skew level gradually decreases, signaling waning bullish sentiments in the short term, with expectations of a rise centering around January ETF approvals.

Furthermore, Michael Van de Poppe, CEO and founder of MN Trading, recently stated that the markets are in a consolidation phase, presenting opportunities, although Bitcoin has not surpassed the $38,000 mark. If the pattern of establishing higher lows and higher highs persists, a breakout appears imminent.

Interestingly, the markets are in a consolidation phase, presenting opportunities, although Bitcoin has not surpassed the $38,000 mark.

Besides, if the pattern of establishing higher lows and higher highs persists, a breakout appears imminent.

Also read: Australia Unveils Bold Strategy To Tackle Banking And Crypto Scams

BTC and ETH Price Report

As of writing, the BTC price noted a downfall of 1.21%, reaching $37,734.99. However, the token witnessed a slight jump of 0.62% over the past seven days, along with a substantial increase of 9.46% over the past month.

Moreover, the ETH price experienced a decline of 1.21% over the past 24 hours, reaching $2,032 today. Additionally, the token noted a downfall of 2.07% over the past week. However, the ETH price noted a substantial increase of 12.23% over the past month.

Also read: SEC Chair Gary Gensler Hinted At Spot Bitcoin ETF Approval? Speculates Bloomberg Analyst