{"id":299249,"date":"2024-05-10T15:17:50","date_gmt":"2024-05-10T09:47:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=299249"},"modified":"2024-05-10T15:17:50","modified_gmt":"2024-05-10T09:47:50","slug":"btc-price-rallies-as-18000-bitcoin-options-set-to-expire-today-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/btc-price-rallies-as-18000-bitcoin-options-set-to-expire-today-whats-next-crypto-news\/","title":{"rendered":"BTC Price Rallies As 18,000 Bitcoin Options Set to Expire Today,\u00a0What\u2019s\u00a0Next? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The Bitcoin (BTC) price has experienced a significant uptick, marking a nearly 3% surge today following\u00a0<\/span>a period of<\/span>\u00a0sluggish trading.\u00a0<\/span>Meanwhile<\/span>, the recent rally<\/span>, after a prolonged volatile market sentiment, precedes a\u00a0<\/span>major<\/span>\u00a0event: the expiry of 18,000 Bitcoin options.<\/span>\u00a0Notably, the market participants are closely watching the implications of this expiry on\u00a0<\/span>BTC\u2019s<\/span>\u00a0price trajectory and the broader cryptocurrency<\/a> market.<\/span><\/p>\n

Market Analysis Ahead of Options Expiry<\/span><\/h2>\n

The recent surge in Bitcoin prices has\u00a0<\/span>investors\u2019<\/span>\u00a0attention, following volatile trading and ahead of\u00a0<\/span>today\u2019s<\/span>\u00a0options expiry<\/a>. Notably, As the market braces for the expiry of 18,000 Bitcoin options, analysts at Greeks.\u00a0<\/span>live<\/span>\u00a0to provide insights into the current options data. With a Put Call Ratio of 0.64, a Maxpain point at $62,000, and a notional value of $1.2 billion, anticipation is high regarding potential market movements post-expiry.<\/span><\/p>\n

<\/p>\n

Meanwhile, the recent weakness in crypto markets, compounded by falling volumes and outflows from US BTC ETFs, has raised concerns. Despite a slight recovery in investor confidence due to decreasing implied volatility (IV), uncertainties linger, particularly considering historical market trends in May.<\/span><\/p>\n

While Bitcoin garners attention, Ethereum (ETH) is also in focus as 280,000 ETH options\u00a0<\/span>are set<\/span>\u00a0to<\/span>\u00a0expire today. With a Put Call Ratio of 0.74, a Maxpain point of $3,050, and a notional value of $800 million, market participants\u00a0<\/span>are closely monitoring<\/span>\u00a0<\/span>ETH\u2019s<\/span>\u00a0price dynamics alongside BTC.<\/span><\/p>\n

\"Bitcoin
Source: Greeks.live, X<\/figcaption><\/figure>\n

Also Read: Dogwifhat (WIF) Price Shoots 13% Amid Whale Accumulation, More Steam Left?<\/a><\/strong><\/p>\n

<\/p>\n

Implications Amid Fund Outflows<\/span><\/h2>\n

<\/p>\n

Despite the impending options expiry, both Bitcoin and Ethereum prices have rallied. In addition, this surge in the Bitcoin price comes despite reports of an $11.3 million outflow from US Spot Bitcoin ETFs<\/a> on May 9.\u00a0<\/span>Notably,<\/span>\u00a0<\/span>Grayscale\u2019s<\/span>\u00a0ongoing exodus continues to weigh on the Bitcoin ETF flows.<\/span><\/p>\n

However, as market participants navigate these developments, the coming hours post-options expiry will likely\u00a0<\/span>provide clarity on<\/span>\u00a0BTC and\u00a0<\/span>ETH\u2019s<\/span>\u00a0short-term price trajectory. Traders remain\u00a0<\/span>vigilant,<\/span>\u00a0and<\/span>\u00a0<\/span>prepared to react to any significant market movements resulting from this event.<\/span><\/p>\n

According to CoinGlass data, the Bitcoin Futures Open Interest (OI)<\/a> soared 1.84% to 480.25K BTC or $30.28 billion today. Simultaneously, the Ethereum OI noted an advancement of 0.58% to $10.76 billion\u00a0<\/span>at the same time<\/span>.<\/span><\/p>\n

<\/p>\n

Meanwhile, the Bitcoin price<\/a> soared 2.74% and traded at $62,946.19, while its trading volume from yesterday rose 8.08% to $26.04 billion. On the other hand, the Ethereum price<\/a> rose 1.80% to $3,034.26 ahead of the options expiry.<\/span><\/p>\n

Also Read: Kraken Fires Back At SEC Over Unregistered Securities Trading Claims<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin (BTC) price has experienced a significant uptick, marking a nearly 3% surge today following\u00a0a period of\u00a0sluggish trading.\u00a0Meanwhile, the recent rally, after a prolonged volatile market sentiment, precedes a\u00a0major\u00a0event: the expiry of 18,000 Bitcoin options.\u00a0Notably, the market participants are closely watching the implications of this expiry on\u00a0BTC\u2019s\u00a0price trajectory and the broader cryptocurrency market. Market […]<\/p>\n","protected":false},"author":2,"featured_media":273302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-299249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=299249"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299249\/revisions"}],"predecessor-version":[{"id":299256,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299249\/revisions\/299256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/273302"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=299249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=299249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=299249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}