Overview

• Over $2.2B worth of options for Bitcoin set to expire on May 26.
• Ethereum exchange balance drops to five-year low.
• Tether’s holdings of US treasuries currently rivals the world’s wealthiest countries.

Bitcoin Options Expiry

On May 26, an estimated 85,000 Bitcoin options will expire, according to Deribit data as of May 23. This puts a notional value of approximately $2.3 billion up for expiry, with a Put Call Ratio of 0.38 and a max pain price of $27,000.

Ethereum Options Expiry

Approximately 700,00 Ethereum options are also set to expire on May 26th according to Deribit data as of May 23rd, with a Put Call Ratio of 0.49 and a max pain price of $1,800, representing just over $1.3 billion in total notional value up for expiry.

Expected Volatility

Due to the large amount of options expiring on May 26th resulting in potential shifts in market sentiment and prices, short-term volatility is expected in both the Bitcoin and Ethereum markets during this period .

Conclusion

In conclusion, investors should be aware that there is potential for significant volatility due to the large number of cryptocurrency options expiring on May 26th in both the Bitcoin and Ethereum markets respectively .