Key Points
- Deribit reveals that around $5.22 billion in Bitcoin and Ethereum options expire tomorrow.
- BTC is trading above $66,000 and ETH is priced above $2,500.
According to new data revealed today by Deribit, approximately $5.22 billion in crypto options are set to expire tomorrow, October 25.
Bitcoin and Ethereum Options Expiry Details
Tomorrow, $4.21 million Bitcoin options are set to expire with a Put/Call Ratio of 0.64 and a Max Pain point of $64,000.
Also, $1.02 billion Ethereum options will expire with a Put/Call Ratio of 0.97 and a Max Pain point of $2,600.
The Bitcoin and Ethereum options data is released amidst intense volatility recorded in the crypto markets.
Bitcoin Price Above $66,000
Today, BTC lost support for $67,000 once again, and, at the moment of writing this article, BTC is trading above $66,800, up by almost 0.6% in the past 24 hours.
On October 23, BTC’s price recorded a dip close to $65,200 levels, before a rebound above $67,000, but failed to remain above the important price mark.
In the past 24 hours, BTC saw over $56 million in liquidations, of which $28.2 million were long positions and almost $28 million were short positions, according to CoinGlass data.
Compared to last week when BTC recorded a significant rally fueled by continuous inflows in US BTC ETFs, whale accumulation, and the US elections, this week, the coin saw a downward trend which debuted on October 21.
On that day, BTC reached price levels above $69,000, the first time since June, but by October 23, BTC’s price dropped to $65,000 levels ahead of a rebound to current prices.
Ethereum’s performance was also weaker compared to previous weeks.
ETH Price Above $2,500
At the moment of writing this article, ETH is trading above $2,500, down by over 2% in the past 24 hours.
Yesterday, ETH recorded a price drop to around $2,460, before rebounding above the current $2,500 levels.
In the past 24 hours, ETH saw over $63 million in liquidations, $46.6 million in long positions, and $16.6 million in short positions.
The general crypto market recorded over $250 million in liquidations during the past 24 hours, according to the same CoinGlass data.
Prices’ volatility is likely to continue as the US elections are getting closer, but multiple factors could propel BTC to a new ATH by the end of 2024.
