{"id":69855,"date":"2023-10-07T09:22:26","date_gmt":"2023-10-07T13:22:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/will-it-impact-the-recent-rally\/"},"modified":"2023-10-07T09:22:29","modified_gmt":"2023-10-07T13:22:29","slug":"will-it-impact-the-recent-rally","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69855","title":{"rendered":"Will It Impact the Recent Rally?"},"content":{"rendered":"
\n

As crypto markets remain relatively stagnant, attention is turning to the impact of a significant Bitcoin (BTC) options expiry event set to occur on October 6.<\/p>\n

Approximately 14,000 Bitcoin options contracts, with a total notional value of around $400 million, are set to expire that day, though this event is notably smaller than last week’s expiry.<\/p>\n

The “max pain” point for these options contracts is $27,000, which is approximately $700 below Bitcoin’s current spot price.<\/p>\n

The max pain point represents the price level at which most open contracts exist and where most losses occur when contracts expire.<\/p>\n

Balanced put\/call ratio<\/h2>\n

The put\/call ratio for these options stands at 0.89, indicating a relatively balanced distribution between sellers of long and short positions.<\/p>\n

A put option is a bet that the price of an asset will fall, while a call option is a bet that the price will rise.<\/p>\n

Bitcoin’s price trend for the week has been upward, with holiday-related factors contributing to lower trading volumes during Asian hours.<\/p>\n

Analysts note that October \u2013 as well as the fourth quarter as a whole \u2013 have historically seen uptrends in the crypto market.<\/p>\n

However, positioning by traders in bearish put options remains significant, and liquidity has been decreasing recently, leading to speculation that a major market movement \u2013 potentially to the downside \u2013 could occur in October.<\/p>\n

In addition to Bitcoin options, around 200,000 Ether (ETH) options contracts, with a notional value of $330 million, are also set to expire on October 6.<\/p>\n

These Ether options have a similar put\/call ratio of 0.87 to that of Bitcoin.<\/p>\n

Despite the options expiry, the impact on spot markets remains uncertain, with the event often passing without any significant impact.<\/p>\n

Bitcoin has experienced a 3% retracement from its recent spike to $28,500, and is currently trading around $27,700.<\/p>\n

Ether has seen a 6.6% decrease since its Monday peak, with a current price of $1,630.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As crypto markets remain relatively stagnant, attention is turning to the impact of a significant Bitcoin (BTC) options expiry event set to occur on October 6. 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