今天的比特币（BTC）和以太坊（ETH）选项到期可能会看到价格波动

如今，价值超过33亿美元的比特币（BTC）和以太坊（ETH）期权合约将到期。这可能会影响市场的短期价格变动。

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，将看到价值33亿美元的比特币（BTC）和以太坊（ETH）期权合约的到期，这可能会影响市场的短期价格变动。

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.

尽管比上周小，但加密货币选项的到期通常会触发价格波动。这是在比特币昨天创造了新的最高水平之后。

Bitcoin and Ethereum Options Expiry: What Traders Should Know

比特币和以太坊选项到期：交易者应该知道的

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.

根据Deribit的数据，今天到期的期权的名义价值为28亿美元。目前的开放利息目前为25,438份合同，比上周的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.

在总计中，有11,435份是呼叫合同，而14,004是合同。这会导致1.22的可呼叫比率为1.22。这些数字表明，市场偏向看跌的情绪，交易者期望价格下降或对抗它。

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，以太坊的市场情绪相似，而呼叫比率为1.27。 201,167份合同的名义价值超过5.42亿美元。其中包括112,565份权利合同和88,602个电话合同。同样，这比上周的219,986份合同减少了。

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，比特币和以太坊的最大疼痛价格都低于其当前价格。根据最大疼痛理论，随着到期的临近，市场可能会倾向于这些较低的价格点，这可能使最高数量的期权合同毫无价值。

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.

对于比特币，最大疼痛价格为104,000美元。在撰写本文时，BTC的交易价格为110,787美元。昨天它的历史最高点为111,917美元，但此后从其峰值下滑了约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.

由于许多贸易商正在通过PUTS保护保护免受下行风险的保护，因此他们预计将短暂回调100,000至103,000美元的范围，在这里，大型公开兴趣可能会发挥作用。

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

尽管如此，主要的市场情绪仍然看涨，许多人期望比特币能够恢复其向上的轨迹。

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.

希腊文的分析师还强调，负资金率表明许多仍在缩短市场的参与者的怀疑。这种短暂的兴趣可能会导致短暂的挤压，潜在的推动价格甚至更高。

“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.

该邮政写道：“被观察的关键水平包括110,000美元作为即时支持，120,000美元作为近期目标，150,000-200,000美元作为长期目标，负资金率表明尽管有集会，但许多人仍在缩短。”

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.

对于以太坊，最大疼痛价格为2,450美元。尽管交易价格为2,693美元，而过去一天的交易增长了2.6％，但随着到期的临近，市场仍然可能看到朝着最大疼痛水平的价格变动。

“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补充说：“以太坊相对于比特币的表现不佳，尽管ETH期望ETH到6月能达到3,000美元，但ETH未能跟随BTC的新历史高潮。”

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，尽管短期价格波动可能会遵循期权到期，但值得注意的是，当交易者适应新价格水平时，市场通常很快就会很快找到自己的立足点。