Watch Out for Today for Bitcoin (BTC) and Ethereum (ETH)! $2.3 Billion at Risk! – Do the Data Still Point to a Bear Market?

A new phase has begun in the US-Iran conflict. A two-week ceasefire has been agreed upon between the two countries, and Bitcoin and altcoins are showing upward movement as a result of this news.

While it remains uncertain how the war will unfold and how it will affect Bitcoin and the cryptocurrency market, the expiration date for option contracts in the crypto market arrived, as it does every Friday.

According to weekly data, approximately $2.3 billion worth of crypto options will expire on the Deribit derivatives exchange on April 10th.

According to Deribit data, $1.94 billion worth of Bitcoin ($BTC) and $330 million worth of Ethereum ($ETH) options will expire.

Accordingly, the Put/Call ratio for $BTC options is 0.71, while the maximum loss point is $69,000 and the intrinsic value is $1.9 billion.

Looking at Ethereum, $ETH options have a Put/Call ratio of 0.77, a maximum stop loss of $2,050, and a nominal value of $330 million.

Greeks.live analyst Adam stated in his assessment that Bitcoin metrics still point to a bear market.

The analyst noted that this week’s market benefited from the US-Iran ceasefire, with Bitcoin breaking above $72,000 and escaping its recent consolidation range. Furthermore, Bitcoin options market share remains above 80%. The most popular expiration dates coincide with the end of April and June, with trading activity concentrated around the monthly expiration dates at the end of April.

In conclusion, the analyst noted that Bitcoin underperformed in the first quarter of this year in terms of both price and trading volume. He also observed weak performance in the first week of the second quarter, but subsequently experienced one of its prolonged recovery rallies this week. However, all indicators still point to bearish market conditions.

*This is not investment advice.