价值 12.3 亿美元的比特币期权即将到期

今天的比特币期权到期数量明显小于上周，合约数量约为 18,000 份，名义价值为 12.3 亿美元。看跌/看涨比率为 0.64，表明看涨情绪更为乐观。最大痛点是 68,000 美元，未平仓合约量很大，为 70,000 美元，这表明有可能恢复到这些水平。此外，还有 270,000 个以太坊期权即将到期，看跌/看涨期权比率为 0.38，最大痛点为 3,400 美元。

Bitcoin Options Expiry: Notional Value of $1.23 Billion Set to Lapse

比特币期权到期：12.3亿美元的名义价值即将失效

Today, April 5, 2024, approximately 18,000 Bitcoin options contracts, representing a notional value of $1.23 billion, are scheduled to expire. While this expiry event is significantly smaller than the massive $15 billion crypto options expiry witnessed last week at the end of the quarter, it nevertheless remains a noteworthy development in the cryptocurrency market.

今天，即 2024 年 4 月 5 日，大约 18,000 份比特币期权合约（名义价值为 12.3 亿美元）预计到期。尽管这次到期事件比上周本季度末发生的价值 150 亿美元的加密货币期权到期事件要小得多，但它仍然是加密货币市场中值得注意的发展。

Market Sentiment and Option Dynamics

市场情绪和期权动态

The current batch of expiring Bitcoin options exhibits a put/call ratio of 0.64, indicating that there are roughly one-third more call (buy) contracts expiring than put (sell) contracts. This suggests a bullish market sentiment, with traders anticipating potential upside in Bitcoin's value.

当前一批即将到期的比特币期权的看跌/看涨期权比率为 0.64，这表明到期的看涨（买入）合约比看跌（卖出）合约多大约三分之一。这表明市场情绪看涨，交易员预计比特币价值可能上涨。

Moreover, the max pain point for these options is $68,000, approximately $500 higher than current spot prices. This indicates that a majority of the open interest is positioned above the current market price, reflecting the expectation of a price rebound.

此外，这些期权的最大痛点是 68,000 美元，比当前现货价格高出约 500 美元。这表明大部分未平仓合约位于当前市场价格之上，反映出价格反弹的预期。

Notably, there is substantial open interest concentrated at the $70,000 strike price, totaling around $900 million. This suggests that market participants are betting on a potential rally towards those levels. Additionally, there is $840 million in open interest at the $100,000 strike price, according to data from Deribit.

值得注意的是，大量未平仓合约集中在执行价格为 70,000 美元的位置，总计约 9 亿美元。这表明市场参与者押注可能会反弹至这些水平。此外，根据 Deribit 的数据，按 10 万美元的执行价格计算，未平仓合约为 8.4 亿美元。

Crypto Market Outlook

加密货币市场展望

The cryptocurrency market has experienced some volatility in recent days, with total market capitalization dropping by 5% as approximately $150 billion in value exited the space. Despite the weakness, markets have generally been consolidating around the $2.6 trillion level since early March.

最近几天，加密货币市场经历了一些波动，总市值下降了 5%，约 1500 亿美元的价值退出了该领域。尽管疲软，但自 3 月初以来，市场总体上一直在 2.6 万亿美元水平附近盘整。

Bitcoin, the largest cryptocurrency by market capitalization, reached a high of $69,000 mid-week but retreated to $66,500 during the Friday morning Asian session. BTC remains approximately 10% below its record-high value.

比特币是市值最大的加密货币，周中触及 69,000 美元的高点，但在周五上午的亚洲时段回落至 66,500 美元。 BTC 仍比历史最高值低约 10%。

Ethereum, the second-largest cryptocurrency, has also exhibited muted price action, dipping by 1% to $3,275.

第二大加密货币以太坊的价格走势也较为温和，下跌 1% 至 3,275 美元。

Altcoins have shown mixed performance, with Toncoin (TON), Bitcoin Cash (BCH), and Ethereum Classic (ETC) posting significant gains. Conversely, Solana (SOL), Internet Computer (ICP), and Aptos (APT) have experienced notable losses.

山寨币表现不一，其中 Toncoin (TON)、比特币现金 (BCH) 和以太坊经典 (ETC) 涨幅显着。相反，Solana (SOL)、Internet Computer (ICP) 和 Aptos (APT) 则遭受了显着损失。

Conclusion

结论

Today's Bitcoin options expiry is expected to create a moderate impact on the cryptocurrency market, as the number of contracts expiring is significantly lower than the previous week's event. However, the put/call ratio and the distribution of open interest suggest that traders remain somewhat optimistic about Bitcoin's price trajectory. The broader crypto market continues to consolidate, with fluctuations in altcoin prices reflecting both bullish and bearish sentiments.

今天的比特币期权到期预计将对加密货币市场产生温和影响，因为到期合约数量显着低于前一周的事件。然而，看跌/看涨比率和未平仓合约的分布表明，交易者对比特币的价格轨迹仍然有些乐观。更广泛的加密市场继续整合，山寨币价格的波动反映了看涨和看跌情绪。