Crypto markets have largely held on to gains this week, buoyed by Ethereum and the US Securities and Exchange Commission’s approval of spot exchange-traded funds.eventThe put/call ratio for this week’s Bitcoin options contracts is 0.88, which means that long and short-contract sellers are relatively evenly matched with slightly more calls expiring. The max pain point, or the price at which most option contract buyers lose their premium, is $67,000.
The longs are also dominating in open interest with around $830 million at the $70,000 strike price. Higher strike prices also have a lot of OI, with around $843 million at $100,000, according to Deribit. The $60,000 strike price has the highest amount of OI for put contracts with $388 million. Open interest refers to the number or value of contracts that have yet to be settled, so the bulls expect much higher BTC prices.In addition to today’s Bitcoin options there are around 354,000 Ethereum contracts expiring today. These have a notional value of $1.5 billion and a put/call ratio of 0.57 with more calls expiring than puts.
The altcoins were a mixed bag with gains for Chainlink , PEPE, and Ethereum Classic , but losses for Solana , Dogecoin , and Toncoin .What is Notcoin ? The Viral Token Coming to The Open NetworkSign-up FREE to receive our extended weekly market update and coin analysis report Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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