Key Points
- Bitcoin options expiration on October 25th showcased a bullish sentiment among traders, with a rise in Bitcoin whales hinting at potential gains.
- Ethereum options expiration on the same date showed a balanced sentiment between bullish and bearish positions, with prices hovering near lows.
On October 25th, a significant event in the crypto market took place with the expiration of Bitcoin and Ethereum options.
Bitcoin Options Expiration
During this event, 63,000 Bitcoin options contracts expired, indicating a generally bullish sentiment among traders.
The Put-Call Ratio of 0.66 suggested that call options exceeded put options, indicating a tendency towards upward price movements.
Bitcoin traded around $67,000 at the time of expiration, slightly down from a recent high of $68,000 but still close to its all-time high of $70,000.
Whale Activity in Bitcoin
Data from Santiment showed an increase in the number of Bitcoin whales over the past two weeks, with 297 new wallets holding at least 100 BTC being added.
This increase often aligns with upward price momentum, suggesting possible further gains for Bitcoin.
Ethereum Options Expiration
Simultaneously, 403,426 Ethereum options contracts expired, with a Put-Call Ratio of 0.97, reflecting a balanced sentiment between bullish and bearish positions.
At the time, Ethereum traded at $2,468, near its Max Pain point, suggesting limited price movement. This contrasted with Bitcoin’s stronger price dynamics, indicating signs of investor indecision for Ethereum.