Key Points
- Bitcoin options show bullish sentiment, with an increase in whales hinting at potential gains.
- Ethereum options reflect investor indecision as prices stay near lows, contrasting Bitcoin’s momentum.
Bitcoin and Ethereum Options Expiration
The crypto options expiration on the 25th of October showed contrasting investor behaviors for Bitcoin and Ethereum.
A total of 63,000 Bitcoin options contracts expired on this date, indicating a generally bullish sentiment among traders with a Put-Call Ratio of 0.66. This ratio suggests that traders are leaning towards upward price movements.
Bitcoin’s Market Activity and Whale Increase
The total notional value of expired Bitcoin options was $4.26 billion, marking significant market activity. Bitcoin traded around $67,000 at the time of expiration, remaining close to its all-time high of $70,000.
Recent data shows an increase in Bitcoin whales over the past two weeks, with 297 new wallets holding at least 100 Bitcoin added. This increase often aligns with upward price momentum, suggesting potential further gains for Bitcoin.
Ethereum’s Options Expiration and Market Behavior
On the same date, 403,426 Ethereum options contracts expired, reflecting a balanced sentiment between bullish and bearish positions with a Put-Call Ratio of 0.97. The notional value of expired Ethereum options reached $1.02 billion, emphasizing Ethereum’s significant market presence.
At the time, Ethereum traded at $2,468, near its Max Pain point, suggesting limited price movement. This behavior contrasts with Bitcoin’s stronger price dynamics, indicating investor indecision for Ethereum.
