Bitcoin Options Expiry of $3.8 Billion Sparks Market Caution

BTC Price Updates Amid $3.8 Billion Options Expiry

Bitcoin (BTC) is experiencing a 1.77% increase, reaching around $112,500, coinciding with the expiry of $3.8 billion in Bitcoin options on September 5.

Notional value of expiring options totals $3.38 billion
Total open interest stands at 30,447 contracts
Max pain level is at $112,000
Put-call ratio is 1.41, indicating bearish market sentiment
Implied volatility has rebounded to about 40%
Put options constitute nearly 30% of today's total options volume
A daily close or retest of ~$113,000 could validate BTC's breakout

Analysts express caution as September historically shows weaker performance for cryptocurrencies, influenced by institutional rollovers and quarterly settlements.

CryptoQuant reports that Bitcoin’s Value Days Destroyed (VDD) metric suggests decreasing selling pressure from long-term holders. A continuation of this trend could allow for upward movement, contingent upon increased demand.