- 20,000 BTC and 200,000 ETH options expired, impacting market dynamics significantly.
- Anticipation of Ethereum ETF approval presents a strategic opportunity for investors.
The wider cryptocurrency market was impacted on June 14, when a significant number of Ethereum (ETH) and Bitcoin (BTC) options expired, according to GreeksLive.
In particular, the put call ratio of 0.49, the maximum pain point of $68,500, and the notional value of $1.35 billion were all present in the expiring 20,000 bitcoin options.
In the meantime, the notional value of $710 million, a maximum pain point of $3,600, and a Put Call Ratio of 0.36 expired for 200,000 ETH options. These expirations are quite important to the short-term price swings and investor mood in the cryptocurrency market.
14 June options delivery data
20,000 BTC options expired with a Put Call Ratio of 0.49, a maximum pain point of $68,500 and a notional value of $1.35 billion.
200,000 ETH options expired with a Put Call Ratio of 0.36, a max pain of $3,600 and a notional value of $710 million.… pic.twitter.com/42ruZLLtqc— Greeks.live (@GreeksLive) June 14, 2024
Volatility and Investor Strategies
The macroeconomic environment has been noteworthy this week, as the market has benefited from positive economic data. Though the cryptocurrency market did not follow suit, the U.S. stock market did.
Cryptocurrencies that are mainstream saw drops, while altcoins fell much more precipitously. There have been fewer hot spots sparking investor interest in the comparatively quiet market.
As of right now, ETH and BTC have much reduced implied volatility (IV). The main short-term IV for BTC is presently less than 50%, while for ETH it is less than 60%. Given the quieter market this decline indicates, buyers can enter positions more affordably.
With some good news on the horizon, investors could find now to be a good time to plan for the next few months.
Potential Ethereum ETF Approval
An Ethereum ETF clearance by the end of this month is much anticipated in the market. Michael Saylor has said, according to a prior ETFNews report, that the inclusion of an Ethereum ETF would contribute to the legitimacy of cryptocurrencies—including Bitcoin—as a respectable asset class.
Going forward, this possible approval can have a big impact on investor strategy and market dynamics.
Meanwhile, BTC is currently selling at about $66,945.39, down 0.74% in the last 24 hours, according to CoinMarketCap data. It has been declining by 5.93% during the past seven days.
Investors should think about setting themselves up for future success, given the state of the market and possible changes. The possibility of arranging next month’s call options in advance arises with the expectation of Ethereum ETF approval.
Buyers hoping to start or increase their positions in BTC and ETH will also find the lower implied volatility to be advantageous.