Bitcoin is stuck near $64,000 as traders brace for a major options expiry that could shake up the crypto market. On July 31, nearly $10 billion worth of options contracts on Deribit are set to expire, drawing sharp focus from investors and analysts alike.
The scheduled expiry includes $9.69 billion in Bitcoin options and $830 million in Ethereum options. This event coincides with the last Friday of both the week and the month, a timing that often triggers increased volatility and strategic repositioning in crypto markets.
Investor Sentiment Revealed by Put/Call Ratios
Bitcoin’s put/call ratio stands at 0.28, signaling a clear bullish bias among traders who anticipate the price will climb above current levels. Ethereum’s options show a more cautious stance with a put/call ratio of 0.63, reflecting some hedging against downside moves. Despite this optimism, experts warn that these ratios alone don’t dictate price direction. Broader factors like US monetary policy decisions and geopolitical tensions in the Middle East continue to weigh heavily on market sentiment.
As BTC hovers near $64,000, traders watch closely for signs of breakout or breakdown, aware that the expiry could either reinforce the trend or trigger a sharp correction. Meanwhile, Ethereum’s max stop-loss around $1,850 adds another layer of complexity for investors balancing risk and reward.
Bitcoin’s recent struggles below $67K and Ethereum’s pressure under $1,900 shows the fragile mood as options expiry looms. The market’s next moves hinge on a mix of technical cues and unfolding global events.
This content is for informational purposes and does not constitute financial advice.
