“$2.6 Billion in Bitcoin and Ethereum Options Expire Today”

On January 3rd, a massive value of $2.6 billion in Bitcoin (BTC) and Ethereum (ETH) option contracts expire, and the potential market effects are drawing attention. With a Bitcoin expiration of $2.15 billion and Ethereum’s of $453 million, traders are alert and speculating how this expiration could affect the markets.

Given the recent price fluctuations, this event could well be the tipping point for a significant market shift.

Today, 20,000 optional contracts for Bitcoin expire with a total value of $2.15 billion. Although this is much lower than the 88,537 contracts from last week, it can still cause price movements. With more long contracts than short ones, the market sentiment for Bitcoin remains predominantly positive.

The outstanding interest of Bitcoin is at the highest level of $120,000, referring to the number of contracts that have not yet expired. Many traders, therefore, expect Bitcoin to continue to rise. Meanwhile, the critical price to watch is $97,000, which could indicate the next direction of Bitcoin.

For Ethereum, 1,323,745 optional contracts expire today worth $453 million. With a put-call ratio of 0.33, more traders are betting on a rise in the Ethereum price. The maximum pain price for Ethereum is $3,400, which could potentially push the price in this direction. Ethereum has been performing well lately, but it needs to break through the $3,600 barrier to maintain its upward momentum.

With such a large expiration, both Bitcoin and Ethereum could experience price movements, especially given the recent price fluctuations. Bitcoin, around $97,000, could continue its advance if it breaks through this resistance. Ethereum, heading towards $3,430, needs to break through the $3,600 barrier to maintain its bullish momentum.

Both assets are at crucial levels today, and their movements could influence the market in the coming days.