\n
<\/p>\n
Around 21,700 Bitcoin options contracts will expire on Friday, Jan. 23, with a notional value of roughly $1.8 billion. This event is slightly smaller than last week\u2019s, as derivatives trading remains sluggish.<\/p>\n
Crypto markets have lost around $200 billion since the start of the week,\u00a0amid\u00a0escalating<\/a> trade wars, Japanese bond turmoil, and delays in US crypto legislation<\/span>.<\/p>\n This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 0.75, meaning that there are more expiring calls (longs) than puts (shorts). Max pain is around $92,000, according to Coinglass, which is above current spot prices, so many will be out of the money on expiry.<\/p>\n Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at $100,000, which has $2 billion at this strike price on Deribit. There remains around $1.1 billion in OI at $85,000 and $90,000, as bearish bets mount.<\/p>\n Total BTC options OI across all exchanges has been climbing since the beginning of the year and is at $36 billion.<\/p>\n \u201cExpiry positioning is tightly clustered around key strikes, keeping spot sensitive into the cut,\u201d stated Deribit before adding<\/a>:<\/p>\n \u201cGeopolitics and trade policy uncertainty remain the macro backdrop, supporting hedging demand and keeping volume reactive.\u201d<\/p>\n<\/blockquote>\n In addition to today\u2019s batch of Bitcoin options, around 118,000 Ethereum contracts are also expiring, with a notional value of $346 million, max pain at $3,250, and a put\/call ratio of 0.86. Total ETH options OI across all exchanges is around $8 billion.<\/p>\n This brings the total notional value of crypto options expiries to around $2.1 billion.<\/p>\n Total market capitalization is down 1% on the day, as all gains made so far this year were wiped out in this red week.<\/p>\n Bitcoin fell to an intraday low of $88,560 before recovering to reclaim $89,500 at the time of writing, but it failed to reach $90,000 over the past 24 hours, suggesting the sellers are strengthening.<\/p>\n Ether prices are also bearish, with a fall below $3,000 and no attempts to reclaim the psychological level over the past 12 hours. It currently trades at $2,950.<\/p>\n Altcoins were mostly in the red, shedding a further 2% to 3% on the day as fear and uncertainty persist.<\/p>\n The post Will Markets React When $1.8B Bitcoin Options Expire Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\nBitcoin Options Expiry<\/h2>\n
\n
Spot Market Outlook<\/h2>\n