TechFlow reports, according to Adam, macro researcher at Greeks.live, approximately $1.6 billion worth of BTC and ETH options are set to expire on December 22.
25,000 BTC options are expiring, with a Put Call Ratio of 0.70, maximum pain point at $42,000, and a notional value of $1.11 billion.
217,000 ETH options are expiring, with a Put Call Ratio of 0.60, maximum pain point at $2,200, and a notional value of $490 million.
He noted that this week the cryptocurrency market has been oscillating at high levels, inscription-related market activity continues, funding borrowing rates keep rising, and a large volume of protective put options have been traded—indicating signals pointing toward potential sharp downside risks.
Option data shows that option positions have significantly rolled into longer-dated maturities for next year. Particularly due to expectations surrounding ETF approvals, January's open interest is notably higher than in previous years, with large-scale position rolling still underway.
