價值 $2.29B 的比特幣和以太坊選擇權合約今日到期，因應市場波動

加密貨幣市場價值 22.9 億美元的比特幣和以太坊選擇權合約將於今天到期。此次大規模到期可能會影響短期價格走勢。

Bitcoin and Ethereum options contracts valued at $2.29 billion will expire today, potentially impacting short-term price movements, especially given the recent decline in both assets.

價值 22.9 億美元的比特幣和以太坊選擇權合約將於今天到期，可能會影響短期價格走勢，特別是考慮到這兩種資產最近都在下跌。

As of Friday, Deribit data shows 28,125 Bitcoin options contracts expiring, while 137,866 Ethereum options contracts are set to expire.

截至週五，Deribit 數據顯示 28,125 份比特幣選擇權合約即將到期，而 137,866 份以太坊選擇權合約即將到期。

These expiring Bitcoin options have a maximum pain price of $69,000 and a put-to-call ratio of 0.92. With the Put-to-call ratio below 1, traders can expect a generally bullish sentiment despite BTC’s 4% drop in the last seven days.

這些即將到期的比特幣選擇權的最高痛苦價格為 69,000 美元，看跌期權與看漲期權比率為 0.92。由於看跌期權與看漲期權比率低於 1，儘管 BTC 在過去 7 天內下跌了 4%，但交易者可以預期普遍看漲情緒。

In comparison, their Ethereum counterparts have a maximum pain price of $2,550 and a put-to-call ratio of 0.69, reflecting a similar market outlook.

相比之下，以太坊同類產品的最高痛苦價格為 2,550 美元，看跌期權與看漲期權比率為 0.69，反映了類似的市場前景。

Recent price declines and external factors, such as the upcoming US elections, have led to a slight uptick in implied volatility (IV), according to Greek.live analysts. They observe, however, that BTC’s max pain point is at a yearly high, with very good trading opportunities now available in the market.

Greek.live 分析師表示，近期價格下跌和外部因素（例如即將到來的美國大選）導致隱含波動率 (IV) 略有上升。然而，他們觀察到，比特幣的最大痛點處於年度高位，目前市場上有非常好的交易機會。

“Bitcoin hit $73,500 this week, just $100 away from a new all-time high, but then went into high gear, back below $70,000. Maxpain point reached a new high for the year this week, while Ether instead struggled near a new low for the year, and Maxpain point also fell this week,” analysts said.

「比特幣本週觸及 73,500 美元，距離歷史新高僅 100 美元，但隨後又回到了 7 萬美元下方。 Maxpain點本週觸及年內新高，而以太幣則在年內新低附近掙扎，Maxpain點本周也有所下跌，」分析師表示。

“The main market thread this week is the US election, and now that the BTC ATM IV on 8 November is close to 70%, and BTC is oscillating near new highs, there are very good trading opportunities in all views.”

“本週市場主線是美國大選，目前11月8日BTC ATM IV已經接近70%，且BTC在新高附近震盪，各方面都存在非常好的交易機會。”

According to BeInCrypto data, Bitcoin is currently trading at $69,268, while Ethereum is at $2,503. This places BTC above its max pain point, while ETH remains below it.

根據 BeInCrypto 數據，比特幣目前交易價格為 69,268 美元，而以太坊交易價格為 2,503 美元。這使得 BTC 高於其最大痛點，而 ETH 仍低於其最大痛點。

The Max Pain theory suggests that options prices tend to converge toward strike prices with the highest concentration of contracts set to expire worthless, known as max pain points.

最大痛苦理論表明，選擇價格往往會趨向於執行價格，其中最集中的合約將到期而毫無價值，稱為最大痛苦點。

For Bitcoin, this implies a potential pullback toward its $69,000 max pain point, likely sparking short-term market volatility. While options expirations often cause temporary price swings, markets generally stabilize soon afterward.

對於比特幣來說，這意味著比特幣可能會回調至 69,000 美元的最大痛點，可能會引發短期市場波動。雖然期權到期通常會導致價格暫時波動，但市場通常很快就會穩定下來。

With today’s high-volume expiration, traders should anticipate similar fluctuations that may shape short-term crypto trends. Price pressure on BTC and ETH will ease after Deribit settles contracts at 08:00 UTC on Friday.

隨著今天的大量到期，交易者應該預期類似的波動可能會影響短期加密貨幣趨勢。 Deribit 在周五 08:00 UTC 結算合約後，BTC 和 ETH 的價格壓力將有所緩解。

Markets should also brace for volatility due to today’s nonfarm payrolls (NFP) on the first Friday of November. This US macro data, coupled with the US elections on Tuesday, could also set the next trend.

由於今天 11 月第一個週五的非農就業數據 (NFP)，市場也應該做好準備應對波動。美國宏觀數據，加上週二的美國大選，也可能決定下一個趨勢。

“We have NFP tomorrow and the US election next week, so do not force any trades until then. Watch the market, and only take clear A+ setups – anything less is not worth it anyway,” a trader on X wrote.

「明天將公佈非農就業數據，下週將舉行美國大選，因此在此之前不要強制進行任何交易。觀察市場，只採取明確的 A+ 設定——任何低於這一點的設定都是不值得的，」X 上的一位交易員寫道。