After a seven-year break, the US government was shut down due to an unresolved budget crisis. The shutdown was not expected to last long, but despite the uncertainty surrounding the shutdown, Bitcoin, Ethereum and altcoins surged.
A few weeks later, BTC exceeded $120,000 and Ethereum exceeded $4,500. This upward trend is expected to continue until October, a month known as Up-to-Ball, and today, every Friday, the crypto market options agreements have arrived.
According to the first weekly data from October, $33.2 billion worth of Bitcoin (BTC) and $963 million worth of Ethereum (ETH) options expire on October 3rd with a derivative derivative exchange.
Therefore, the put-to-call ratio for the BTC option is 1.15, the maximum loss point is $115,000, and the expected value is $3.32 billion.
Looking at Ethereum, the ETH option’s Put/Call ratio is 0.93, with a maximum loss point of $4200 and an estimated $963 million.
Looking at the Put/Call ratio, we can see that it is 1.15 for BTC and 0.93 for ETH. These ratios indicate that Bitcoin sales orders are greater than buy orders, and options traders are bearish.
In contrast, ETH’s put-to-call ratio is 0.93, reflecting the sentiment of investors that are more neutral than Bitcoin. This suggests that options traders are taking jobs in anticipation of the ongoing horizontal movement of Ethereum prices, analysts say.
The biggest problem is that when an option approaches its expiration date, the cryptocurrency price will settle at a certain value, resulting in a large loss in the maximum number of option traders.
At this point, traders usually pay attention to the highest pain level. This could be a major pull in price movement towards expiration dates.
Bitcoin and Ethereum are currently well above their maximum loss levels, but market makers and options sellers may try to push BTC and ETH to $115,000 problems and $4,200 pain points, respectively.
At the time of writing, Bitcoin and Ethereum are trading at $119,900 and $4,455, respectively.
*This is not investment advice.
