Another Friday has arrived, bringing with it a fresh round of Bitcoin options expiry while Bitcoin continues to trade above the 70,000 dollar level.
Approximately 26,700 Bitcoin options contracts are due to expire on April 10, carrying a total notional value of about 1.9 billion dollars. This week’s expiry is relatively modest and closely mirrors last week’s event, making it unlikely to significantly influence spot market activity.
The broader crypto market has shown gradual growth throughout the week, with nearly 90 billion dollars added to total market capitalization since Monday.
Bitcoin Options Expiry
This batch of contracts shows a put to call ratio of 0.71, indicating that long positions outweigh short ones. Data from Coinglass places the max pain level at around 69,000 dollars, slightly below current market prices, suggesting that many options may expire without value.
Open interest, which reflects the total number or value of outstanding contracts, remains strongest at the 80,000 dollar strike price on Deribit, where bullish sentiment is building with around 1.6 billion dollars in positions.
Across all exchanges, total Bitcoin options open interest has declined following the end of the first quarter expiry cycle and now stands at roughly 34 billion dollars.
Analysts noted that easing tensions in the market helped boost sentiment, with traders increasingly purchasing short term call options while adjusting or rolling over put positions to higher strike levels. According to insights from Greeks Live, the move back above 70,000 dollars has improved confidence mainly by reducing fears of a sudden market crash rather than signaling expectations of sustained upward momentum.
In addition to Bitcoin, around 151,500 Ethereum options contracts are also expiring today, representing about 332 million dollars in value. These contracts have a max pain level near 2,050 dollars and a put to call ratio of 0.77. Total Ethereum options open interest across exchanges is estimated at 6.6 billion dollars. Analysts from CryptoQuant suggest that Ethereum derivatives are beginning to show signs of recovery despite ongoing macroeconomic uncertainty.
Altogether, the total value of crypto options expiring today is estimated at around 2.2 billion dollars, making this a relatively small event compared to previous expiries.
Spot Market Outlook
Total crypto market capitalization climbed back above 2.5 trillion dollars on Friday morning in Asia as Bitcoin regained the 72,000 dollar level. The asset has risen by 8.4 percent over the past week but continues to trade within a range, facing strong resistance just above its current price.
Ethereum has also maintained its weekly gains, trading just below 2,200 dollars at the time of writing. Meanwhile, most altcoins showed little movement on the day and continue to hover near bear market levels.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
