Key Points
- $1.97 billion Bitcoin choices and $350 million Ethereum choices expired in the present day.
- BTC is buying and selling above $69,000 and ETH is priced at $2,500.
November 1st choices knowledge is delivered, exhibiting that just about $2 billion in Bitcoin and Ethereum choices expired in the present day.
According to Greeks.stay knowledge, 28,000 BTC choices expired with a Put Call Ratio of 0.92, a Maxpain level of $69,000, and a notional worth of $1.97 billion.
Also, 137,000 ETH choices with a Put Call Ratio of 0.69, a Maxpain level of $2,550, and a notional worth of $350 million expired.
The choices expiry knowledge got here following an thrilling week for Bitcoin which topped $73,500 on October 29, fueled by a number of elements.
BTC Price Trades Above $69,000
At the second of writing this text, BTC is buying and selling above $69,000, down by over 4% up to now 24 hours.
This week was marked by a major value rally for BTC which debuted on October 28 from value ranges of $67,000, reaching its most value since March above $73,500.
The coin’s value rally was fueled by a number of elements together with whale accumulation, the upcoming US elections subsequent week, and important inflows in BTC ETFs within the US.
On October 31, the crypto merchandise recorded over $32 million in inflows, and on October 30, they noticed over $893 million in inflows, the most important day since June.
BTC ETFs noticed a major streak of inflows which debuted on October 11, at over $253 million, and continued till yesterday. During this era, the one outflow day was October 14, when the crypto merchandise noticed outflows of $79 million.
The complete internet property locked within the US BTC ETFs as of October 31 have been over $70 billion and the entire cumulative flows within the crypto merchandise since their January debut was over $24.2 billion, based on SoSoValue knowledge.
Following this week’s rally, BTC recorded a value drop that debuted yesterday and reached a dip in the present day round $68,900 forward of a fast rebound above $69,000.
Data from CoinGlass reveals that BTC liquidations up to now 24 hours have been nearly $90 million, $80 million in lengthy positions, and over $9 million briefly positions.
Greeks.stay shared a post by way of X earlier in the present day, highlighting their earlier prediction of a major whale dump.
They additionally famous that the BTC ATM IV predicted for November 8 is near 70%.
ETH Price Trades at $2,500
Regarding Ethereum’s value in the present day, for the time being of writing this text, the coin is buying and selling at $2,500, down by greater than 5% up to now 24 hours.
Unlike BTC, ETH carried out poorly all through your entire yr, regardless of the launch of ETH ETFs within the US. The crypto merchandise didn’t see the success of BTC ETFs.
In the previous 24 hours, ETH noticed liquidations of over $45 million, $41 million in lengthy positions, and $4.3 million in shorts.
The crypto market is anticipated to see elevated volatility because the US Elections are approaching.
