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$1 Billion in Bitcoin Options Expire, Market Sentiments in Jeopardy By CoinEdition



© Reuters $1 Billion in Bitcoin Options Expire, Market Sentiments in Jeopardy
  • 43,500 options would expire on Friday, February, 3, 2023.
  • The expiring options are currently being traded in the markets.
  • Traders expect the Fed to turn away from interest rate hikes.

Bitcoin’s market sentiments on the first week of February could be critical. This comes as a result of Derebit data revealing that several Bitcoin options, with a total valuation of $1 billion, will expire on February 3.

Data from Derebit, a leading cryptocurrency futures and options exchange reveals that some Bitcoin options are due to expire in the coming days. Altogether, 43,500 Bitcoin options would expire on Friday, February 3, 2023 with a total valuation of $1 billion. The Put/Call ratio of the options is 0.6, with a maximum pain point of $22,500.

Noticeably, active trading is ongoing for the expiring option, along with bets placed on the upcoming release of the first interest rate decision of the United States Federal Reserve for the year 2023. That release is much expected, especially after the debt crisis that confronted the nation earlier this year. Many traders expect the U.S. Federal Reserve to turn away from the rate hikes of 2022, considering the current state of the national debt.

The coming days will be of utmost importance for the Bitcoin market. The Put/Call ratio of 0.6 …

The post $1 Billion in Bitcoin Options Expire, Market Sentiments in Jeopardy appeared first on Coin Edition.

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