Tomorrow is a critical day for Bitcoin and Ethereum investors. On Friday, the $ 1 billion Bitcoin (BTC) option and the approximately $ 450 million Ethereum (ETH) option expire. Investors are waiting tomorrow for the impact of record-high expiring options on Bitcoin and Ethereum prices.
According to the information published on the crypto money analysis platform Skew, 88 thousand Bitcoin options worth $ 1 million expire tomorrow. Open positions on many platforms such as Deribit, OKEx, Huobi, LedgerX and CME reached the highest level, once again beating the record set at the end of July.
This Friday is also a critical day for Ethereum, according to data published on Coinmetrics. Ethereum option periods, worth about $ 450 million, expire tomorrow. According to the information received; Deribit, one of the most popular crypto money platforms for futures with Ethererum options expiring tomorrow, is facing the largest maturity period to date, according to transaction volume.
What Will The Effect On Prices?
According to market experts; options have no direct effect on cryptocurrency prices. However, the speculative environment caused by the intensity of option transactions for Bitcoin and some other altcoins may have an impact on crypto currency prices.
According to analysts, the expiry of the option may add a volatility to the prices for the preceding week. Experts explain this simply because of the hedging fuss of traders who trade options. However, looking at historical data, there has not been a considerable drop for Bitcoin in the last 3 options filling date; Bitcoin dropped an average of $ 300 per day in 3 periods. Nevertheless, the Coin Metrics team, analyzing the Ethereum specific, announced that the Ethereum price could fluctuate over the next week.