$2.6 Billion in Bitcoin, ETH, XRP, Solana Options Expire Today, Experts Raise Concerns
Bitcoin Ethereum $2.6 Billion in Bitcoin, ETH, XRP, Solana Options Expire Today, Experts Raise Concerns Crypto market recorded massive liquidations over the past few hours due to Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) options expiry today. Crypto prices tumbled and pared almost all gains after bearish sentiment over the Senate committee advancing the CLARITY Act faded. The latest US macroeconomic data, Middle East tensions, and spiking US Treasury yields, among other headwinds, are sparking Bitcoin selloff jitters. Over $2 Billion in Bitcoin Options to Expire Today According to Deribit data, almost 25K Bitcoin options with a notional value of more than $2 billion will expire on May 15. The put/call ratio of 0.57 indicates bullish sentiment in the crypto market. The max pain price is at $80,000, below the current market price of $80,772. Moreover, BTC implied volatility is falling and 25 delta skew is rising sharply today. It signals that traders are turning cautious due to high odds of a drop in Bitcoin price. In the last 24 hours, call volume is still higher than put volume, with a put/call ratio of 0.83. Deribit data shows high volume put and call options trading for the May 29 expiry, especially after the hot US CPI