Bitcoin, altcoins stand tall despite options expiry pressure
- Bitcoin and Ethereum remained strong even as large options expired on May 26, according to the report. Debit data.
- Bitcoin options worth $2.2 billion expired on May 26. Despite this momentous event, the currency remained strong above $26,300.
- Bitcoin’s put-to-call ratio was 0.38, with the biggest pain at $27,000.
- Ethereum options, on the other hand, experienced option expiry with a notional value of $1.3 billion.
- Ethereum had a put-to-call ratio of 0.49 and a maximum payout price of $1,800.
- Heading into June, we expect option expiry notional value to exceed $3 billion, with a maximum pain price of $24,000. This price is slightly higher than the notional amount and slightly higher than the May maturity.
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