Bitcoin (BTC) and global markets are expected to see Fed Chairman Jerome Powell’s speech in Jackson Hole today.
At this point, it is predicted that Powell’s hawkish stance could trigger a decline, while a moderate stance could bring an increase to the market.
While the market is currently focused on Powell’s speech, the expiration date for options contracts in the crypto market has arrived today, as it does every Friday.
According to data for the third week of August, $3.8 billion worth of Bitcoin and $930 million worth of Ethereum options will expire on August 22 on the Deribit derivatives exchange.
Accordingly, the Put/Call Ratio of BTC options is 1.30, the maximum loss point is $118,000 and the notional value is $3.8 billion.
When we look at Ethereum, ETH options have a Put/Call Ratio of 0.83, a maximum loss point of $4,250, and a notional value of $930 million.
Bitcoin’s put/call ratio is 1.30, indicating that investors are seeking protection against potential declines. Ethereum’s put/call ratio is 0.83. This indicates relatively stronger call demand, suggesting investors are acting with balance and anticipating a price reversal.
At this point, analysts at Greeks.live said that Ethereum investors are cautiously bullish, with many thinking the asset has already bottomed.
“The main focus of investors has been ETH’s outperformance compared to BTC. Investors are managing risk by taking profits on calls while maintaining some delta positions through short puts.
At this point, there is a strong belief in the market that ETH has reached a bottom in the ETHBTC pair, with a significant outperformance against BTC.
*This is not investment advice.
