On January 30, Bitcoin options worth approximately $7.6 billion, covering 91,000 contracts, will expire with a put-call ratio of 0.48 and a maximum expected loss threshold of $90,000. On the same day, 435,000 Ethereum options valued around $1.19 billion will also expire, exhibiting a put-call ratio of 0.68 and a maximum loss limit set at $3,000. These figures highlight ongoing uncertainty and volatility within the market. This is the first monthly expiration following the annual settlement, with about 25% of total positions, equivalent to roughly $9 billion, set to conclude. Although most options remain bullish, significant price declines in Bitcoin and Ethereum since yesterday have generated fear and hesitation across the crypto market. The lingering effects of last year’s fourth-quarter downturn continue to influence the market, establishing strong support levels at $80,000 for Bitcoin and $2,500 for Ethereum. Key analytical data indicates a notable rise in implied volatility, reaching approximately 45% for Bitcoin and 60% for Ethereum, marking the highest levels this year. Substantial trading activity and position adjustments are underway as market participants seek opportunities and hedge against risks. Market makers and active traders hold considerable liquidity, signaling robust market transactions, with increased demand observed for bearish defenses. This environment reflects ongoing uncertainty and emotional responses among investors and traders, suggesting that price fluctuations may persist. The upcoming expiration date could significantly impact prices, potentially triggering further market shifts in the days ahead.
Source: binance
