Over $9.5 billion in cryptocurrency options will expire at 3:00 PM (Vietnam time) on January 30th, with Bitcoin accounting for $8.27 billion and Ethereum $1.27 billion.
Information from Deribit indicates that the price of Bitcoin is consolidating around $90,000. Increased demand for hedging against price declines reflects cautious sentiment, but overall market sentiment remains bullish.
- $9.5 billion in cryptocurrency options expire at 3:00 PM (Vietnam time) on January 30th.
- Bitcoin: $8.27 billion; put/call 0.54; Maximum pain level is 90,000 USD.
- Ethereum: 1.27 billion USD; put/call 0.74; max pain level 3,100 USD.
Maturity scale and key price milestones
The total notional value of cryptocurrency options expiring was over $9.5 billion at 3:00 PM (Vietnam time) on January 30th.
Specifically, the Bitcoin option has a notional value of $8.27 billion, a put/call ratio of 0.54, and a maximum pain (the maximum stop-loss level as announced) of $90,000. The Ethereum option reached $1.27 billion, with a put/call ratio of 0.74 and a maximum pain of $3,100.
The $90,000 (Bitcoin) and $3,100 (Ethereum) levels have become closely watched price zones as the large volume of expiring contracts could increase short-term volatility around settlement times.
Market sentiment: cautious but still leaning toward bullish.
Bitcoin is consolidating around $90,000 amid increasing demand for downside protection.
Deribit stated that the decrease in hedging demand reflects cautious trading sentiment. However, the overall assessment remains that the market maintains a bullish trend based on the data presented.
In a previous report, Deribit also stated that cryptocurrency options trading had contributed to keeping the price of Bitcoin around $90,000.
