今天的比特幣（BTC）和以太坊（ETH）選項到期可能會看到價格波動

如今，價值超過33億美元的比特幣（BTC）和以太坊（ETH）期權合約將到期。這可能會影響市場的短期價格變動。

Today will see the expiration of $3.3 billion worth of Bitcoin (BTC) and Ethereum (ETH) options contracts, which could affect the market’s short-term price movements.

今天，將看到價值33億美元的比特幣（BTC）和以太坊（ETH）期權合約的到期，這可能會影響市場的短期價格變動。

Although smaller than last week’s, the expiration of crypto options often triggers price volatility. This comes after Bitcoin hit a new all-time high yesterday.

儘管比上周小，但加密貨幣選項的到期通常會觸發價格波動。這是在比特幣昨天創造了新的最高水平之後。

Bitcoin and Ethereum Options Expiry: What Traders Should Know

比特幣和以太坊選項到期：交易者應該知道的

According to data from Deribit, today’s expiring options have a notional value of $2.8 billion. The total open interest is currently at 25,438 contracts, down slightly from last week’s 26,543 contracts.

根據Deribit的數據，今天到期的期權的名義價值為28億美元。目前的開放利息目前為25,438份合同，比上週的26,543份合同略有下降。

Of the total, 11,435 are call contracts, and 14,004 are put contracts. This results in a put-to-call ratio of 1.22. These figures suggest that the market is skewed toward bearish sentiment, with traders expecting downward price movement or hedging against it.

在總計中，有11,435份是呼叫合同，而14,004是合同。這會導致1.22的可呼叫比率為1.22。這些數字表明，市場偏向看跌的情緒，交易者期望價格下降或對抗它。

Moreover, the market sentiment for Ethereum is similar, with a put-to-call ratio of 1.27. The notional value of the 201,167 expiring contracts is over $542 million. This includes 112,565 put contracts and 88,602 call contracts. Again, this is a decrease from last week’s 219,986 total contracts.

此外，以太坊的市場情緒相似，而呼叫比率為1.27。 201,167份合同的名義價值超過5.42億美元。其中包括112,565份權利合同和88,602個電話合同。同樣，這比上週的219,986份合同減少了。

It is worth noting that the maximum pain price for both Bitcoin and Ethereum is below their current price. According to the Max Pain theory, the market could gravitate toward these lower price points as expiration approaches, potentially making the highest number of options contracts worthless.

值得注意的是，比特幣和以太坊的最大疼痛價格都低於其當前價格。根據最大疼痛理論，隨著到期的臨近，市場可能會傾向於這些較低的價格點，這可能使最高數量的期權合同毫無價值。

For Bitcoin, the max pain price is $104,000. At the time of writing, BTC was trading at $110,787. It reached an all-time high of $111,917 yesterday but has since slipped around 1.0% from its peak.

對於比特幣，最大疼痛價格為104,000美元。在撰寫本文時，BTC的交易價格為110,787美元。昨天它的歷史最高點為111,917美元，但此後從其峰值下滑了約1.0％。

As many traders are securing protection from downside risk with puts, they are anticipating a brief pullback to the $100,000–$103,000 range, where the large put open interest could come into play.

由於許多貿易商正在通過PUTS保護保護免受下行風險的保護，因此他們預計將短暫回調100,000至103,000美元的範圍，在這裡，大型公開興趣可能會發揮作用。

Despite this, the predominant market sentiment remains bullish, with many expecting Bitcoin to resume its upward trajectory.

儘管如此，主要的市場情緒仍然看漲，許多人期望比特幣能夠恢復其向上的軌跡。

The analysts at Greek.live also highlighted that negative funding rates indicate skepticism from many participants, who are still shorting the market. This short interest could lead to a short squeeze, potentially driving prices even higher.

希臘文的分析師還強調，負資金率表明許多仍在縮短市場的參與者的懷疑。這種短暫的興趣可能會導致短暫的擠壓，潛在的推動價格甚至更高。

“Key levels being watched include $110,000 as immediate support, $120,000 as a near-term target, and $150,000-200,000 as longer-term targets, with negative funding rates suggesting many are still shorting despite the rally,” the post read.

該郵政寫道：“被觀察的關鍵水平包括110,000美元作為即時支持，120,000美元作為近期目標，150,000-200,000美元作為長期目標，負資金率表明儘管有集會，但許多人仍在縮短。”

For Ethereum, the max pain price stands at $2,450. Despite trading at $2,693, a 2.6% increase over the past day, the market may still see price movements toward the max pain level as expiration approaches.

對於以太坊，最大疼痛價格為2,450美元。儘管交易價格為2,693美元，而過去一天的交易增長了2.6％，但隨著到期的臨近，市場仍然可能看到朝著最大疼痛水平的價格變動。

“Ethereum’s underperformance relative to Bitcoin is notable, with ETH failing to follow BTC’s new all-time high despite expectations for ETH to reach $3,000 by June,” Greek.live added.

Greek.Live補充說：“以太坊相對於比特幣的表現不佳，儘管ETH期望ETH到6月能達到3,000美元，但ETH未能跟隨BTC的新歷史高潮。”

Thus, while short-term price swings may follow the options expirations, it’s worth noting that markets usually find their footing again pretty quickly as traders adjust to the new price levels.

因此，儘管短期價格波動可能會遵循期權到期，但值得注意的是，當交易者適應新價格水平時，市場通常很快就會很快找到自己的立足點。