As crypto markets increase integration with traditional financial instruments, forces of influence in different areas have begun to come into play. Option contracts, one of them, have recently been followed closely. The critical price may affect the course of Bitcoin options contracts that will expire as of July 21, 2023.
About 21,000 Bitcoin options contracts will expire as of today. Contracts worth about $630 million are not huge compared to the past period. The larger (60,000) options expire on July 28, 2023.
Maximum pain point of options (max pain point) at the level of $ 30,250. This level is the level with the highest number of open contracts and the put/call ratio obtained by dividing put options by call options is 0.41. A ratio below 1 usually indicates an upward trend as there are more buy contracts in this case.
Whether or not options contracts are bought can also have a significant impact on the price. bitcoin price, is trading at $ 29,800 as of the writing of the article, while waiting for options contracts. Although the contract size is not large, an increase in price volatility can be expected near the expiry.
Ethereum options contracts are similar to BTC, with a putt/call ratio of 0.43. While the volumes in the crypto money market are at their lowest level in recent times, it seems highly likely that new news from the USA will move the market in two directions again.