Bitcoin and Ethereum options expiry looms amid market uncertainty, as BlackRock’s Bitcoin ETF records no inflows for consecutive days. As the expiration date nears for significant Bitcoin (BTC) and Ethereum (ETH) options contracts, the cryptocurrency market prepares for possible volatility. Traders are closely monitoring market dynamics as 96,000 BTC options and 990,000 ETH options, valued at $6.2 billion and $3.1 billion respectively, are set to expire.
The prevailing sentiment towards these assets can be seen through the Put Call Ratio, which stands at 0.68 for BTC and 0.51 for ETH. Additionally, the Maxpain point for BTC is $61,000, while for ETH it is $3,100. These price levels indicate where the least amount of options contracts would expire worthless.
Despite recent fluctuations, Bitcoin is currently trading at $64,126.48, representing a modest 0.47% increase. However, trading volume has decreased by 9%, indicating reduced market activity. Notably, BlackRock’s spot Bitcoin ETF has seen two consecutive days of zero inflows, with total outflows reaching $338.2 million.
Market analysts have differing opinions on the impact of upcoming events, such as the debut of the Hong Kong ETF and potential institutional demand. While some anticipate increased interest, others, like pseudonymous analyst Kamikaze Fiat, highlight the substantial inflows needed for significant price movements.
As of April 24th, Q2 ETF inflows stand at $170 million. The market eagerly awaits further developments in the midst of ongoing uncertainty and shifting investor sentiment.