Bitcoin Options Expiry Today, BTC Price Max Pain Point At $55K
Highlights
- Bitcoin options put-call ratio stands at 1.49 with a max pain point of $55,000.
- Traders implement spot-protected strategies despite rise in Bitcoin options value.
- GBTC bitcoin ETF Outflows once again reach $600 million.
The world’s largest cryptocurrency Bitcoin (BTC) had a phenomenal price rally this week shooting all the way to $64,000. Since then, the Bitcoin price has faced some retracement and currently trading at $61,158 levels with a market cap of $1.2 trillion. Today is the weekly Bitcoin options expiry with traders expecting some volatility going ahead.
Bitcoin Options Expiry Hints At Notable Market Trend
As the expiration of cryptocurrency options approaches, significant figures emerge in the market landscape. A total of 19,000 Bitcoin (BTC) options, valued at a notional value of $2 billion, are set to expire with a combined notional value of $790 million. The Put Call Ratio stands at 1.49 for BTC options while the Maxpain point is indicated at $55,000 for BTC.
This news comes amidst an eventful week in crypto markets, marked by Bitcoin’s surge to over $64,000 and a noticeable uptrend in major term implied volatilities (IVs), reaching levels last seen in January 2024 and March 2023.
Driving the bullish sentiment in the spot market is the Bitcoin ETF, which has experienced remarkable gains this week. However, despite modest rises inBitcoin options volume and positions, buyers are increasingly adopting spot-protected strategies, contributing to a robust market structure. Bitcoin now commands over 50% of the total cryptocurrency market share, while attention is expected to shift towards Ethereum as the bull market progresses, reports Greeks.Live.
BTC Whales on Selling Spree
According to crypto analyst Ali Martinez, there’s been a notable surge in profit-taking among Bitcoin whales. Over the last three days, they’ve offloaded over 80,000 BTC, equivalent to about $4.8 billion. Investors and traders should exercise caution in light of this development.
On the other hand, outflows from the Grayscale’s GBTC ETF continue to rise once again this week, doubling every next day. As per data from Farside investors, the GBTC outflows on Thursday, February 29, stood at a staggering $600 million. Despite this, the inflows continue to remain strong with BlackRock’s IBIT leading by a huge margin. The total inflows into spot Bitcoin ETFs as of Thursday stood at $510 million.
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- Ethereum’s Vitalik Buterin Responds to Allegations of Excessive Control By ETH Inner Circle
- Solana News: Gemini Launches SOL Edition Credit Card Following XRP Card Success
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
