Key Points
- 20,200 Bitcoin options and 125,000 Ethereum options expire today.
- BTC is trading above $63,000, while ETH is priced above $2,500.
Today’s Bitcoin and Ethereum options data is released by Greeks.live following a crypto rally this week.
In a new post on X, they note that 20,200 BTC options are set to expire with a Put Call Ratio of 0.86, a Maxpain point of $59,000, and a notional value of $1.28 billion.
Also, 125,000 ETH options will expire today with a Put Call Ratio of 0.67, a Maxpain point of $2,350, and a notional value of $320 million.
This week saw a continuous crypto rally, as the US Fed decided to cut interest rates by 50 bps on September 18. The result of the FOMC meeting exceeded the market expectations, boosting confidence.
Confidence Rises in the Crypto Market
Apart from the Fed’s decision to cut interest rate this week, the market is also fueled by optimism by the fact that Q3 is coming to an end, and investors await Q4.
Historically, October is a good month for Bitcoin, although, in 2024, the digital asset also performed well in September, as we previously predicted, especially this week following important macro data in the US.
According to Greeks.live, after the Fed’s rate cut, IVs declined across all major terms and volatility remains under downward pressure ahead of quarterly delivery.
While BTC performed reasonably well this month, ETH is looking weaker. The exchange rate to BTC has rebounded at the long-term support level of 0.04.
BTC Trades Above $63,000, and ETH Above $2,500
At the moment of writing this article, BTC is trading above $63,000, up by over 2% in the past 24 hours.
BTC had a pretty volatile week with its rally kicking off on September 17 when the coin reached prices above $61,000 ahead of the important FOMC meeting.
On September 19, BTC reached a price of over $62,500 following the Fed’s rate cut by 50 bps, and the digital asset’s rally continued following an unexpected drop in US weekly jobless claims.
The number of initial jobless claims in the US for the week ending on September 14 was 219,000, the lowest since the week ending on May 18, 2024. The expected number was 230,000-231,000.
Regarding Ethereum, at the moment of writing, the digital asset is trading above $2,540, up by almost 5% in the past 24 hours.
After a price dip close to $2,270 on September 17, the coin rebounded close to $2,400 on the same day before another correction. On September 19, ETH also kicked off a price rally that continued above $2,560 earlier today.
Ethereum had a worse performing week compared to Bitcoin in terms of ETFs as well.
BTC ETFs saw 3 inflows days this week, on September 16, 17, and 19, (totaling over $357 million). The weekly net inflows for BTC ETFs were over $305 million as of yesterday.
On the other hand, the US-based ETH ETFs recorded a single inflow day on September 19 ($5.24 million in inflows), according to data from SoSoValue. The weekly outflows for ETH ETFs were over $29 million as of yesterday.
