$3.3 Billion Bitcoin and Ethereum Options Expiry Signals Major Volatility

The cryptocurrency market may face significant volatility as $3.3 billion in Bitcoin and Ethereum options expire today. This comes shortly after the release of the US CPI and PPI data.

Bitcoin Options Expiry

27,000 BTC options expired with a Put-Call Ratio (PCR) of 1.03 and a Max Pain point at $100,000.
Notional value of Bitcoin options reached $2.76 billion, indicating bearish sentiment.
Traders are adopting defensive strategies, opting to sell rather than chase momentum.
Whales sold over 30,000 BTC in the last 72 hours as Bitcoin struggled to break the $105,000 resistance.

Ethereum Options Expiry

220,000 ETH options expired with a PCR of 1.36 and a Max Pain point at $2,300.
Notional value amounted to $570 million, though participation from mainstream coins has decreased.
ETH price is currently up 3.15% at $2,634, with a crucial breakout level at $2,700.
Over 300,000 ETH have left Binance in the past month, indicating potential supply shock.

Analysts predict increased volatility for Ethereum, suggesting a possible consolidation phase before another breakout, especially if prices drop below $2,400.