Greeks.live: Bearish sentiment prevails this week, with 22,000 BTC and 211,000 ETH options set to expire soon

Bitget App

Trade smarter

2024/01/19 05:31

Adam, a macro analyst at Greeks.live, posted on the X platform stating that 22,000 BTC options will expire today with a Put Call Ratio of 1.1 and a maximum pain point of $44,000 USD, representing a nominal value of $890 million USD.

In addition, 211 thousand ETH options will also expire today with a Put Call Ratio of 0.55 and a maximum pain point of $2,500 USD; this represents a nominal value of $520 million USD.

He stated that the current impact from Bitcoin spot ETFs has essentially dissipated with volatility significantly decreasing and main term IV plummeting. The maximum pain point is close to the settlement price for the first time this year. This week's PCR reached 1.1 in bull market for the first time indicating bearish forces are gaining ground this week.

The next major hotspot could be speculation about halving; it's clear that this year is set to follow bullish trends.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!