- BTC and ETH options worth $3.2B set to expire with max pain levels at $100K and $2,200
- Put/Call ratios show neutral BTC sentiment, bearish ETH tilt ahead of May 16 expiry
- BTC consolidates near $102K, ETH trades above $2,550 ahead of Friday volatility window
Significant Bitcoin (BTC) and Ethereum (ETH) options expiries are approaching, setting the stage for notable market volatility in the crypto market this weekend. Data from the Deribit Options and Futures cryptocurrency exchange indicates substantial order volumes are due to expire by Friday morning, May 16.
Billions in BTC and ETH Options Set to Expire
Deribit’s data reveals Bitcoin’s pending Put/Call orders to be $2.66 billion, while Ethereum has a $525 million that could expire in less than 24 hours from the time of writing (Thursday, May 15).
The information further details Bitcoin’s max pain point at $100,000 and Ethereum’s at $2,200. These levels reflect the price at which most options would expire worthless.
Related: Bitcoin (BTC) Price Prediction for May 16
Market Sentiment Mixed Ahead of Expiry Event
For context, Bitcoin’s sentiment in the entire scenario remains neutral, with a Put/Call ratio of 0.99, while Ethereum reflects a more bearish potential, having a Put/Call ratio of 1.24.
This data has put investors on alert, considering the crypto market’s potential to respond in alignment with the prevailing sentiments triggered by the expiring orders.
Meanwhile, it is crucial to note that expiring orders and their surrounding factors do not always determine crypto trend outcomes. For instance, the market could absorb the shock and neutralize the expected volatility, considering external factors and their potentially significant roles.
Bitcoin and Ethereum Consolidate with Bullish Outlook
In the meantime, Bitcoin entered into short-term consolidation after reaching a $105,706 local high on Monday. The pioneer cryptocurrency traded for $102,070 at the time of writing, according to data from TradingView.
Despite the pullback, Bitcoin maintains a bullish momentum, with users expecting the digital asset to remain above the $100,000 support and pursue higher price targets.
Related: ETH Price Remains Strong Above $2.5K Despite Wild Exchange Flows & Huge $1.2B Withdrawal
Ethereum’s consolidation started after Tuesday’s rally to $2,739. The flagship altcoin pulled back to trade for $2,550 at the time of writing.
ETH also maintains a bullish outlook, supported by massive technical and fundamental factors. It currently sits above crucial support at $2,540, and users expect that level to hold, preparing the foundation for the altcoin’s surge to higher price targets.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
