Bitcoin Futures Options Expiry: Market Holds Steady Above $69K Amid Record Activity

On March 29, the Bitcoin market witnessed the most significant quarterly expiration event of Bitcoin futures options in its history. Despite this, the Bitcoin price managed to hold steady above the $69,000 mark, which is impressive.

This indicates that the market remains confident in the future of Bitcoin, despite the high level of activity and volatility surrounding it.

According to a post by Deribit on March 28, the notional value of Bitcoin options that expired on that day was $9.53 billion, which represented 63% of the total value of cryptocurrency options that expired. The put/call ratio of the Bitcoin options was 0.84, indicating that there were more put options than call options.

The “max pain” price potential of the Bitcoin options was $51,000, which means that the price at which the highest number of options would expire worthless was $51,000. This metric is used by traders to determine the price level that would cause the most pain to option buyers and sellers.

The expiry of these futures options is significant as it represents a substantial amount of money and could have an impact on the cryptocurrency market. It will be interesting to see how the expiry of these options affects the price and volatility of cryptocurrencies in the coming days and weeks.

Based on CoinMarketCap data, the price of Bitcoin has decreased by 0.7% within the last 24 hours, and is currently trading at $69,924 as of 10:35 am UTC. Despite this slight downturn, it is important to note that Bitcoin has shown a strong positive trend of 11.9% on the monthly chart, affirming its potential as a lucrative investment choice.

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