Bitcoin and Ethereum's $14 Billion Data Indicates Sales by Institutions! - Coin Bulletin

According to Greekslive data, with the expiration of BTC and ETH futures options on March 28, a weak investor sentiment and increased selling pressure are emerging in the markets following quarterly deliveries.

Today, on March 28, with the expiration of futures options, significant data regarding Bitcoin (BTC) and Ethereum (ETH) options is emerging. This data presents a remarkable picture in terms of market dynamics.

High nominal value and low Put-Call ratio in BTC options

According to data provided by Greekslive, 139,000 BTC options are expiring and the Put-Call ratio for these options is recorded as 0.49. The Put-Call ratio indicates the ratio of sell (Put) and buy (Call) options, and a ratio of 0.49 reveals that there are more buying options compared to selling options. The Maxpain point for these options is determined to be 85,000 dollars. The Maxpain point refers to the level at which the party experiencing the maximum loss is located when the options expire. In this case, keeping the Bitcoin price around 85,000 dollars stands out as the scenario that would lead to the least losses in the options market. The total nominal value of these options is around 12.1 billion dollars.

Status of ETH options

There are also significant data regarding Ethereum options. A total of 301,000 ETH options are expiring, and the Put-Call ratio for these options has been recorded at 0.39. This means that call options are slightly more dominant than put options. The Maxpain point for Ethereum has been determined to be 2,400 dollars. This indicates that keeping the Ethereum price close to 2,400 dollars is critical for maintaining balance in the options market. The total nominal value of these options has been calculated to be 2.13 billion dollars.

(# Quarterly deliveries and volatility

According to Greekslive data, quarterly deliveries took place this week. Contrary to expectations, there was more volatility in the market, but prices closed near the lower levels of the range. Deliveries accounted for 40% of the total position, and BTC options covered 80% of the deliveries, while ETH options constituted 20%. Among altcoins, Solana )SOL### had only a 2% share. This situation indicates that, despite some uncertainties regarding Ethereum, there is a general order continuing in the Ethereum market.

Implied volatility (IV) indicates market participants' expectations of future price fluctuations. According to Greekslive, implied volatility showed a slight decline. Bitcoin's (BTC) main futures volatility dropped below 50%, while Ethereum's (ETH) volatility continued to hover around 60%. The lack of new fund inflows into cryptocurrencies and the absence of new investor interest indicate a weakening of investor sentiment. No signs of a reversal in the short term have been observed following the quarterly deliveries.

Additionally, large farm sales (double selling) have become more frequent and options market makers continue to increase selling pressure. Options market makers are reapplying selling pressure, which indicates that short-term implied volatility may decrease further. Buyers are expected to face more challenges in the coming period. This creates a negative situation for investors expecting price volatility in cryptocurrencies.

In summary, according to Greekslive data, the increasing selling pressure and weak investor sentiment in the markets are notable with the expiration of BTC and ETH options on March 28. Since there is a lack of new fund inflows in cryptocurrencies, investors may face a more challenging period in the short term.