You Won’t Believe the $3.8B Crypto Fireworks! 🚀💥

by

Crypto Market Carnival: Bitcoin & Ethereum‘s Explosive Exit! 🎪

  • Approximately $3.21 billion worth of Bitcoin Options with a “max pain” at $105k, and $624M in Ethereum Options trying to hold on at $2,600—like a bad breakup that just won’t end.
  • About 10% of all positions decided to bounce back this week, because apparently, hope isn’t dead just yet.

Yesterday, a cool $3.8 billion in Bitcoin [BTC] and Ethereum [ETH] Options bid farewell, leaving behind a trail of spicy volatility. Translation? Buckle up, traders—it’s a rollercoaster with the potential for riches or regret. 🎢💸

BTC & ETH Options: The Market’s Gossip

With the June 6 contracts gone, the data gave us serious intel—think of it as crypto’s version of TMZ. Bitcoin saw 31,000 options vanish faster than your last six diet attempts, with a max pain at $105,000 (yeah, good luck). The total value? A cool $3.18 billion, because why not throw that around? 💰

Open interest? $41.69 billion. According to Coinglass, Deribit was the star with $33.33 billion—like the Beyoncé of exchanges. CME? A modest $3.12 billion. Meanwhile, retail traders were all over OKX, Binance, and Bybit, showing they still believe in the dream—even if it’s just to watch it crash spectacularly.

Crypto market chaos

Ethereum’s turn: 241,000 ETH options expired—like leftovers from a party nobody wanted to clean up, with a Put/Call ratio of 0.67. Max pain at $2,575 (oh, sweet dreams), worth $624 million. Basically, traders are still kinda optimistic, or at least pretending to be.

Only about 10% of the positions came back from the dead this week—proof that sometimes, even in crypto, hope is just a fleeting meme. Institutional bigshots threw some block orders around, making it look like they’re playing Monopoly with real money.

But don’t get your hopes up too high. Experts are whispering that Bitcoin and Ethereum will do the slow dance—little moves, no fireworks. Most of the week? Just sideways, because apparently, the market needs a nap. 😴

Market movement

Meanwhile, Elon Musk and Donald Trump’s feud spilled over, tanking Tesla’s stock and giving crypto markets a nice little panic attack. Inflation and interest rates? They’re basically playing a game of “How Low Can You Go?” with traders nervously clutching their portfolios. 🤡

Crypto Options vs. Futures: The Drama Level

The Bitcoin Open Interest Ratio ticked up to 58.14%, making it the popular kid on the block. ETH’s ratio? A whopping 21.19%. High BTC ratios could mean some wild price swings—think rollercoaster, not roller skating. ETH’s lower ratio? Probably just a lot of folks betting on futures and not much else. Because who doesn’t love a little chaos? 🎲

Over the past year, Bitcoin has played it cool with ratios between 50% and 125%. Ethereum? Not so much—staying below 0.5 most of the time, confirming they prefer the thrill of futures over actual options. Classic.

Crypto ratio chaos

Bottom line? In the short term, BTC could throw some wild punches, while ETH tries to keep its cool. Keep your eyes peeled for post-expiry shenanigans—things tend to get extra spicy when open interest is high. Just like that one friend who always shows up to the party an hour late—but with a lot more money at stake.

Read More

2025-06-07 09:13