Massive $2.6 Billion Bitcoin and Ethereum Options Expiration Today: How It Will Be Impacted

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Today, January 3, a massive $2.6 billion worth of Bitcoin (BTC) and Ethereum (ETH) options contracts will expire, which will result in some potential market movements. Of this, Bitcoin options accounted for $2.15 billion, and Ethereum options totaled $453 million. Given recent price movements, this expiration date may affect how both assets perform in the short term.

Bitcoin options expire

Bitcoin is seeing 20,000 options contracts worth $2.15 billion expire today. While this is significantly lower than last week's 88,537 contracts, it could still cause some price movement. With more long contracts (calls) than short contracts (calls), Bitcoin market sentiment remains mostly positive.

Bitcoin's open interest, which indicates the number of unexpired contracts, is at a high of $120,000. This shows that many traders are expecting Bitcoin to go higher.

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Meanwhile, a key price to watch is $97,000, which could indicate the next direction for Bitcoin.

$453 Million in Ethereum Options Expired

In addition to Bitcoin, Ethereum has 1,323,745 expiring options contracts worth $453 million. A call ratio of 0.33 suggests that many traders expect prices to rise. The maximum pain point for Ethereum is $3,400, which means we could see the price move towards that level. Ethereum has been doing well recently, but it needs to cross $3,600 to continue moving higher.

What's Next for Bitcoin and Ethereum?

With this huge expiration date, the market could see some price changes for both Bitcoin and Ethereum, especially considering the recent price changes. Bitcoin is close to $97,000 and could go higher if it clears that resistance.

Ethereum is seeing gains and is approaching $3,430. However, for both to continue their rise, they must pass key defensive steps.

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