The cryptocurrency market is preparing for potential turbulence as over $2.2 billion in Bitcoin and Ethereum options are set to expire today, June 7, 2024. This significant event includes approximately $1.24 billion in Bitcoin options and $984 million in Ethereum options.
The expiration of these options contracts could lead to increased market volatility, depending on traders' reactions. According to Deribit data, 17,609 Bitcoin contracts will expire with a put-to-call ratio of 0.67, indicating a higher prevalence of purchase options over sales options. Similarly, 259,641 Ethereum contracts are expiring with a put-to-call ratio of 0.64.
Analysts suggest that while the expiration may cause short-term disruptions, the market often stabilizes afterward. Traders are advised to monitor technical indicators and market sentiment closely.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
