Today, the cryptocurrency market is showing tension ahead of the Bitcoin (BTC) and Ethereum (ETH) option expiration. With a total option expiration of $11 billion (approximately 15.7 trillion won), investors are focusing on the possibility of market volatility expansion.
According to the derivatives exchange, the Bitcoin option contracts expiring today are 92,459, amounting to $9.8 billion (approximately 13.426 trillion won). The current Bitcoin price is $105,982, down 1.9% from 24 hours ago. The maximum loss price (max pain) is around $100,000.
For Ethereum, 623,949 contracts are approaching expiration, with a scale of $1.6 billion (approximately 2.192 trillion won). Ethereum is currently trading at $2,600, down 4% over 24 hours. The maximum loss price is around $2,300.
The put-call ratio is noteworthy. Both Bitcoin and Ethereum are maintaining below 1, recording 0.89 and 0.81 respectively, which is interpreted as a predominant optimistic outlook from market participants.
Cryptocurrency experts advised, "As it is a monthly expiration date, with a larger scale of options maturing than usual and a continued adjustment phase after the recent rally, volatility could expand. A cautious approach is necessary in the short term."
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