Last Bitcoin Options Expiry of 2023
Today is the final Bitcoin options expiry for 2023, with approximately 178,000 BTC options set to expire. The Put Call Ratio stands at 0.67, indicating a significant expiration. The maximum pain point is at $33,000, and the total notional value is $7.59 billion. This year’s delivery day will witness $11 billion in options expiring, surpassing last year’s total position of $9.8 billion.
The cryptocurrency market usually experiences low volatility at the end of each year, but the anticipation of Exchange-Traded Funds (ETFs) launching in January has sustained interest and kept Implied Volatility (IV) levels balanced.
The crypto options and derivatives market has matured in 2023, attracting institutional investors and expanding its range of strategies and products.
Latest BTC Developments
The approval of a Bitcoin ETF by the SEC is expected around January 10, 2024. Market players like Ark Invest and 21Shares have filed an amendment to the form S-1, focusing on changes to authorized participants’ terms.
The current Bitcoin price hovers around $43,000, with analysts predicting a potential dip to $40,000. However, any dip could present a buying opportunity.
Hot Take: Bitcoin Continues to Surge in 2024
Despite its ups and downs, Bitcoin remains a favorite among investors as it recorded a remarkable 160% surge in 2023. With the anticipation of the first Bitcoin ETF hitting the market soon, interest in the cryptocurrency continues to grow. The last Bitcoin options expiry of the year has seen significant activity, reflecting the increasing maturity of the crypto market. As we enter into 2024, all eyes are on Bitcoin as it continues to make waves in the financial world.
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