On November 20, Deribit published data on crypto options expirations in a volatile market. The total crypto market capitalization stands at $3.09 trillion and the Fear and Greed index reads 15, still signaling extreme fear.
Deribit's BTC and ETH Options Expiration Details
On X, Deribit announced that over $4.2 billion in BTC and ETH options are set to expire on November 21st at 8:00 AM (UTC). Bitcoin options will expire with a Put/Call ratio of 0.63 and a Max Pain point of $99,000, higher than the current price of Bitcoin. Deribit noted that the positioning does not signal a major exit risk, but traders remain cautious after the latest sharp price drop. Ethereum options will expire with a Put/Call ratio of 0.77 and a Max Pain point of $3,200, also higher compared to Ethereum's current price. OI ETH is showing persistent call demand from the mid-to-high zone and traders are maintaining their exposure until expiration, suggesting that confidence has not completely disappeared despite market volatility.
Bitcoin and Ethereum price movements
At the time of writing, BTC is trading above $89,000, down over 0.8% in the last 24 hours.
BTC USD Price Today Since November 19, BTC has seen volatility, with its price fluctuating between the $88,000 and nearly $93,000 levels. ETH is currently trading above $2,919, underperforming BTC over the past 24 hours, down nearly 2% today.
ETH USD Price Today Since November 19, ETH prices have fluctuated between a low of $2,870 and a peak above $3,050. BUY BTC, ETH In terms of institutional interest in BTC and ETH, US BTC ETFs saw new inflows on Nov. 19 with positive inflows of more than $75.4 million, while ETH ETFs had their seventh consecutive day of outflows of more than $37.3 million, according to SoSoValue data. ETH ETFs have seen negative flows since November 11, with the largest day of outflows being November 13 with nearly $260 million. Meanwhile, crypto liquidations continue, but at lower values compared to other days in November. This month, several traders, including Andrew Tate, were liquidated repeatedly.
General crypto market sentiment and reasons for optimism
Despite the bearish sentiment lingering in the crypto market, there are still optimistic events that could bring back upward moves for BTC and crypto. For example, earlier today, US Congressman Warren Davidson introduced legislation to codify Trump's Strategic Bitcoin Reserve Executive Order – the bill would allow taxes to be paid in BTC and exempt these transactions from capital gains tax, among other things. Davidson stated this in an interview with Fox Business, pointing out that BTC is an asset that appreciates over time. Also, despite the slim chance of a rate cut in December, QT should end early next month, allowing more capital to flow into BTC and the crypto market. More crypto ETFs are set to launch now that the US government shutdown is over, which could bring bullish moves. Moreover, the global adoption of crypto and blockchain continues to grow, amid clearer regulations worldwide, which will make the industry more attractive to investors. These are just some of the reasons why the industry should remain optimistic about the future. BUY BTC, ETH Join 33,000+ Subscribers. No spam, just useful info.