In a significant turn of events, the cryptocurrency market has experienced a considerable pullback, with over $2.5 billion worth of Bitcoin (BTC) and Ethereum (ETH) options expiring today. This development comes amid fluctuating market sentiments and a noticeable shift in investor behavior. According to data from Greeks.live, a notable cryptocurrency analytics platform, a vast array of options expired on March 22.
The details reveal that about 25,000 Bitcoin options reached their expiry, carrying a Put Call Ratio of 0.56. The notional value of these options stood at a staggering $1.7 billion, with a Maxpain point identified at $67,000. In parallel, around 250,000 Ethereum options also expired, holding a Put Call Ratio of 0.51, a Maxpain point at $3,500, and a notional value approaching $890 million.
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