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The crypto market’s economic calendar has a notable event, with significant amounts of Ethereum and Bitcoin options set to expire today (19 May 2023). Moreover, the volumes are striking, and will likely affect price actions within the cryptocurrency world.
BTC and ETH options expiry
Bitcoin has approximately 29,000 options awaiting expiry today. Currently, the leading crypto has a 0.81 Put Call Ratio, whereas the maximum pain point stands near the $27.5K mark. Converting the contracts in dollars results in a substantial figure. The BTC contracts up for expiry have their value at around a staggering $780M.
Meanwhile, that’s just part of the story. Ethereum also awaits similar events – with a more significant figure. The second-largest crypto has 169,000 options awaiting expiry. They have a 0.96 Put Call Ratio with an approximately $1,800 maximum pain point. These contracts represent a massive $310M value.
Prepare for price swings
Market participants will have to brace for these events. The crypto space will likely witness near-term volatility that will affect BTC and ETH’s price actions. Remember, price movements by these leading tokens often trigger a ripple effect in the entire crypto industry, shifting the market’s trajectory.
Crypto enthusiasts should prepare for possible price fluctuations. That can mean changing their trading styles. Remember, today’s events might shift the cryptocurrency landscape, considering the industry’s nature.
Staying informed remains the rule of the game in this dynamic industry. Traders, market watchers, and investors should remain informed about upcoming market events that could impact price movements. That’s crucial when interacting with the crypto’s unpredictable nature.
BTC and ETH prices already reacting
The crypto market has lost yesterday’s bullish steam, with most tokens sliding over the past day. Bitcoin trades at $26,847 during this writing, losing 1.84% within the last 24 hours. Also, Ethereum dropped 1.33% in that timeframe, changing hands at $1,802 at press time. Some analysts believe Bitcoin might fall below $26K amid the ongoing price swings. Nonetheless, crypto pundits remain optimistic, forecasting impressive long-term trends.
Areas of Support
Hold Above: $26,524.52
Levels of interest
— Trader Fred (@DCA_Cryptoz) May 18, 2023