BTC options with a nominal value of 1.25 billion USD and ETH options worth 1 billion USD are about to expire

Data shows that 18,000 BTC options have expired, with a Put Call Ratio of 0.67 and the biggest pain point at $70,000, representing a nominal value of $1.25 billion. Meanwhile, 260,000 ETH options have expired with a Put Call Ratio of 0.64 and the biggest pain point at $3,650; this represents a nominal value of $1 billion.

Greeks.live states that this week's interest rate cuts by the Bank of Canada and European Central Bank led to good performance across risk investment markets. The crypto market is currently driven by both BTC ETFs and ETH ETFs; there is clear differentiation between macro-level factors and news-related factors but overall market sentiment remains optimistic.

Currently, IV for major terms around BTC hovers around 50%, while for ETH it's about 55%; both have fallen to reasonable levels. Profits can now be made from selling ETH to buy BTC as part of an inter-currency IV spread strategy mentioned last week.

This month's BTC trends are likely strongly correlated with macro news related to Federal Reserve interest rate cuts while ETH trends will mainly be influenced by news on ETF approvals.