Bitcoin options contracts will end on Friday, February 28, with a total virtual value of about $ 4.7 billion.
This expiration event is expected to be larger than usual due to the end of the month, a limited direct impact on the immediate market, which is already under pressure from the American trade war Donald Trump.
The PUT/Call ratio of this options is 0.71, indicating the high number of (long) contracts compared to the subtraction (short pants).
Data from Deribit shows that the open interest is still higher at the price of the strike of $ 120,000, which represents contracts of $ 1.5 billion.
In addition, the prices of the strike amounting to $ 100,000 and $ 110,000 have about one billion dollars of open interest each, while the descending morale is increasing, with $ 800 million in contracts that were placed at the price of the strike of $ 80,000 – the current level.
Merchants prepare for more negative risks
According to the Crypto Live derivatives, the market morale is often declining.
“The total market morale: The group is mostly highlighted with traders who watch $ 82,000 as a decisive support level that must keep the HTF direction (high time frame). There is great concern about the continuation of the downside, as many members discuss a 17 % decrease in three days and discuss whether the last sale is controlled or indicates a shift in the broader market,” Read the post.
BTC was traded at $ 78,751 at 8:44 am GMT.
Technical analysts warn that if the original is closed below the average price of the average price (VWAP) 2024, the higher timeline trend may be at risk, which may push Bitcoin towards the range between 77,000 and 72000 dollars.
Meanwhile, ETHEREUM also faces a major event, with a value of 526,000 options worth $ 1.14 billion.
The PUT/Call 0.52 ratio indicates relatively balanced locations, although Ethereum has faced sharp losses from Bitcoin in the last sessions.
What will happen to BTC and ETH prices?
With the growing bitcoin, some traders turn towards the differences of calling as a defensive strategy.
The move depends on the expectation that, in the wake of the recent decline, the bitcoin price may become volatile, with a possible re -test of $ 88,000 before the clearest direction appears.
Deribit reports that merchants are preparing for more disturbances in the market, hedging against the risk of bitcoin declining to the levels that have been seen last after the election day.
The broader view is still weak, and it is exacerbated by US President Donald Trump’s tariff for Mexico, Canada, China and Europe.
The long -term effects of Bitcoin and the coded currency sector are still unconfirmed.
Despite the current contraction, the price of the maximum pain for both bitcoin and Ethereum remains much higher than their immediate prices.
With the price of the maximum pain for the immediate price, sellers may have an incentive to pay bitcoin prices and ETHEREUM prices towards this level.
“With the end of the month approaching, BTC options merchants should note: Max Pain on February 28 sitting at a price of $ 98,000, with a huge virtual value of $ 5 billion. This means that the highest open attention is collected here, which stimulates the market makers to keep BTC close to this price. Expect increasing fluctuations and potential price attractiveness towards this level,” Altcoin options stated PowerTrade.
It deepens the sale of the encryption market
The ongoing sale in the encryption market has intensified, as the total market value decreased by 8.4 % on Friday to 1.6 trillion dollars, according to Coingecko.
The original has now corrected more than 25 % of its highest level ever, as it decreased to less than 80,000 dollars for the first time since November 10.
Meanwhile, Ethereum has witnessed a significant decrease, as it decreased by 8 % to 2150 dollars, which represents its lowest price in more than a year with weekly losses of 22 %.
“Despite the decrease, institutions such as Standard Charreed remain optimistic, targeting $ 500,000 by the end of the Trump term. In addition, Texas consensus unanimously show Bitcoin reserves strong government support for the sector. Saxina added that these positive developments have strengthened the feelings of investors, but it has not yet been reflected in the price of bitcoin.”
Other major cryptocurrencies slipped, as Ethereum decreased by 7 %, XRP 5 % loss, BNB fell 4 %, and Solana slides 3.9 %. Dogecoin, Cardano, Chainlink, Tron, SUI, Avalanche, Stellar, Litecoin, and Hedra were recorded between 2 % and 8 %.
4.7 billion dollars in Bitcoin’s options ends today: Are there more upcoming fluctuations? First appeared on Invezz
