June is shaping up to be an eventful month for Bitcoin and Ethereum, with significant options expirations on the horizon. According to data from Greeks.live, a total of 18,000 Bitcoin options and 260,000 Ethereum options are set to expire on June 7.
This news comes amidst a focus on the US Non-Farm Employment Data and its potential impact on the cryptocurrency markets, particularly Bitcoin. Positive data could lead to a rise in BTC prices, as indicated by the current Put/Call Ratio of 0.67 and a maximum loss point of $70,000 for Bitcoin options expiring on June 7, with a notional value of $1.25 billion. Similarly, Ethereum options have a Put/Call Ratio of 0.64, a maximum loss point of $3,650, and a notional value of $1 billion.
The positive sentiment in the crypto market is further fueled by interest rate cuts by central banks and continued inflows into BTC ETFs. Greeks.live suggests that Bitcoin’s narrative in June will be driven by news related to the US FED’s interest rate cuts, while Ethereum’s performance will be influenced by potential ETF approvals.
The put/call ratio, which indicates the balance of put and call options, currently favors an upward trend for both BTC and ETH. However, it is important to note that market dynamics can change rapidly, and investment decisions should not be based solely on one data point or report.
As the June 7 options data unfolds, with a significant volume of options expiring for both Bitcoin and Ethereum, the market is poised for potential movements based on these expirations. Stay tuned for further updates and analysis on these developments.