Crypto Market Selloffs Alert: $2.1B in Bitcoin and Ethereum Options to Expire Today
Bitcoin Crypto Ethereum Crypto Market Selloffs Alert: $2.1B in Bitcoin and Ethereum Options to Expire Today Crypto market selloffs could increase today as Bitcoin and Ethereum options are set to expire. Traders expect major volatility because of the options expiry and growing uncertainty, especially as Trump considers a “final blow” to Iran after turning down Irans offer to end the war. The wider crypto market saw profit-taking after US PCE inflation reached a three-year high of 3.5%. Oil prices also rose to $106 as the US kept its naval blockade of the Strait of Hormuz to increase pressure. Over $1.7 Billion Bitcoin Options Expiry Stirs Crypto Market Selloffs Jitters According to Deribit derivatives crypto exchange, almost 23K Bitcoin options with a notional value of $1.74 billion are set to expire on May 1. The put-call ratio is 1.10, signaling a higher volume of put options as compared to call options, indicating traders are leaning bearish. Bitcoin max pain price is at $76,000, below the current market price of $77,200. Moreover, puts are higher than calls at the $76,000 strike price, and the $75,500 and $77,000 strike prices have massive volume amid current crypto market volatility. Bitcoin Options Open Interest. Source: Deribit Deribit warned traders to watch the settlement