Key Points
- 23,000 Bitcoin options and 127,000 Ethereum options expire today.
- BTC is trading near $58,000 and ETH is trading above $2,300.
September 13 Bitcoin and Ethereum options data is released via an official post by Greeks.live via X.
According to their notes, 23,000 BTC options are about to expire today, with a Put Call Ratio of 0.87, a Maxpain point of $58,000, and a notional value of $1.34 billion.
Also, 127,000 ETH options are due to expire today, with a Put Call Ratio of 0.73, a Maxpain point of $2,400, and a notional value of $298 million.
Crypto Market Outlook
According to their notes, digital assets rallied this week, and the overall volatility expectations in the market are declining. Maxpain Point is once again keeping up with the price.
Also, major term IV declined as expectations of a 25 bps rate cut by the Fed in the US have risen to 87%.
The September market was weak this year as well, just as expected and ETH in particular showed extreme weakness.
The exchange rate against BTC has fallen below the long-term support level of 0.04 and the “engine” of the next bull market still seems to be BTC, according to Greeks.live.
BTC Trades Near $58,000 and ETH Above $2,300
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading near $58,000, after a volatile week.
After seeing a price dip close to $55,000 on September 11th, the digital asset rebounded above $58,000.
Considering the current BTC cycle, and its stages, the conclusion is that spot is the best option for traders at the moment. From March of this year to the present, we’re in the 2nd phase of consolidation.
Important BTC-specific signals regarding short-term, medium-term, and macro outlook were analyzed yesterday by on-chain analyst Willy Woo.
Regaring the price of ETH, at the moment the coin is trading above $2,300, down by almost 1% in the past 24 hours.
ETH experienced a drop in price below $2,300 on September 11, before a reversal above the level.
