- Major market event affecting BTC and ETH options on expiry.
- Market-wide exposure due to high notional value.
- Potential volatility increase for BTC and ETH prices.
The expiry of these options marks a significant event, highlighting the market’s current volatility and its potential ripple effects on related cryptocurrencies.
Market Impact
Driven by leading data providers Greeks.live and Deribit, 41,000 BTC options and 240,000 ETH options met their expiry today. This occurrence involves the participation of institutional and retail investors. Deribit, the preeminent global crypto options exchange, sees over 10% of total options positions affected.
Implied volatility for ETH surged beyond 70%, indicating expected price movements. Meanwhile, BTC’s volatility stabilized near 40%, with institutional trades dominating over 30% of daily volumes. The expiries underlie increased market activity across crypto assets. As Adam, Options Analyst at Greeks.live, remarked:
Market sentiment has clearly turned optimistic, ETH has driven the recovery of the altcoin market, BTC has remained at a historical high, and Fomo sentiment in the options market has heated up.
The expiration of these crypto options, valued at $5.8 billion, indicates wider market impacts. Market makers might rebalance, affecting price swings. Institutional trades show substantial dominance oftentimes signaling indicative trends.
As these expiries influence both BTC and ETH, historical trends, as noted in BTC and ETH Options Expand Market Volatility with $5.8 Billion Expiry, suggest a potential for heightened price movements. Previous large expiries have historically heightened volatility, focusing attention on max pain points for investment strategies and market adjustments.
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