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Over $6.51 billion in Bitcoin and Ethereum options are due to expire on Nov. 24, potentially indicating heightened trading activity. A  vast number of Bitcoin (BTC) and Ethereum (ETH) option s are set to expire on Nov. 24, potentially influencing market dynamics. This comes in the wake of the U.S. DOJ’s recent criminal charges against the Binance and its hefty $4.3 billion fine.  Specifically, about 108,000 BTC options are nearing their expiration date. These options carry a Put Call Ratio of 0.83, indicating a slightly higher inclination towards call options (betting on price increase) than put options (betting on price decrease). The ‘max pain point’ for these options is $33,000, which is the price level where the collective holders of the options contracts would experience the most financial loss. The total notional value of these BTC options is a staggering $4.04 billion. 24 Nov Options Data 108k BTC options are about to expire with a Put Call Ratio of 0.83, a max...

The crypto trading platform plans to add options for SOL, XRP, and MATIC starting January 2024. Crypto derivatives exchange Deribit is seeking to apply for a brokerage license in the European Union roughly a year after the platform suffered a $28 million hack. In an interview with Bloomberg, Deribit CCO, Luuk Strijers, said the EU is currently considered by the exchange as the “best environment to launch new products,” although in early 2023 reports said the business was planning to move to Dubai. “Is this the best environment to launch new products or should we defer? That’s what keeps us awake.” Luuk Strijers, Deribit CCO He also added that the firm is expecting “some increased volatility” in early 2024 as Deribit plans to launch new options on Solana (SOL), XRP, and Polygon (MATIC) — altcoins, which have been classified as a security by the U.S. Securities and Exchange Commission. As of press time, Deribit offers Bitcoin (BTC) and E...

Bybit launching a $100 million fund and Binance’s proof of reserves might have marked the cycle low at $15,500. Bitcoin (BTC) has been trading near $16,500 since Nov. 23, recovering from a dip to $15,500 as investors feared the imminent insolvency of Genesis Global, a cryptocurrency lending and trending company. Genesis stated on Nov. 16 that it would “temporarily suspend redemptions and new loan originations in the lending business.”  After causing initial mayhem in the markets, the firm refuted speculation of “imminent” bankruptcy on Nov. 22, although it confirmed difficulties in raising money. More importantly, Genesis’ parent company Digital Currency Group (DCG) owns Grayscale — the asset manager behind Grayscale Bitcoin Trust, which holds some 633,360 BTC. Contagion risks from the FTX-Alameda Research implosion continue to exert negative pressure on the markets, but the industry is working to improve transparency and insolvency risks. For example, on Nov. 24, crypto derivatives e...

Bitcoin bears benefit from the current macroeconomic uncertainty and are aiming for a $270 million profit if the BTC price falls below $25,000. Bitcoin’s price failed to break above $27,500 for the fourth time in 12 days on May 23. The subsequent 24-hour rejection down to $26,100 might seem small in absolute terms, but it potentially represents the lowest daily close in 68 days. As the deadline for the Bitcoin (BTC) monthly options expiry on May 26 approaches, the fate of the $2.26 billion open interest could determine whether the recent bearish trend will prevail, opening room for a correction down to $25,000 or lower. Bitcoin price and the U.S. debt ceiling debate Analysts argue that even if the United States government is able to raise the debt ceiling ahead of the June 1 deadline, risk-on assets such as stocks and cryptocurrencies could suffer, as the offer of new U.S. Treasurys would drain liquidity from the market. The incentives for fixed income are in place as the one-year in...

$4.2 billion in BTC options expire on March 31, and despite weeks of harsh regulatory action against the crypto sector, bulls are well positioned to profit. Regulation continues to be the primary concern for Bitcoin bulls, especially after the Commodity Futures Trading Commission (CFTC) sued Binance for trading and derivatives law violations. The regulator wants Binance to repay the trading profits, revenues, salaries, commissions, loans and fees it received from US citizens, as well as paying civil penalties for the violations. The increase in Bitcoin’s price was also fueled by a shift in sentiment toward risk assets after the U.S. Federal Reserve Chair Jerome Powell said interest rate hikes are no longer the default move to curb inflation. The central bank understood that the current situation will likely “result in tighter credit conditions for households and businesses, which would in turn affect economic outcomes.” Fixed-income investors earn more when interest rates rise, so buy...