The Block Crypto News15 minutes ago

Published on June 28, 2024 09:56 GMT+00:00edited on June 28, 2024 10:01 GMT+00:00

The put-call ratio for bitcoin option on Deribit leading up to today's expiry has risen to 1.66. A ratio above one means significantly more put options than call options being traded. This indicates that more investors are betting on or hedging against a price decline rather than an increase.

Deribit end-of-June options data shows 107,000 bitcoin options are expiring with a max pain point of $61,500 and a notional value of $6.6 billion. As of the time of writing, bitcoin is priced at $61,398, approaching the max-pain point ahead of today's expiry. This indicates that the bitcoin price is nearing the level where the most options will expire worthless. Traders might be positioning themselves to benefit from this alignment, potentially leading to reduced volatility and increased market …