Crypto prices climbed higher after Trump said a peace agreement with Iran could be signed as soon as this weekend in Europe. Bitcoin (BTC), Ethereum (ETH), and XRP prices are rising amid buy-the-dip action, but $2.5 billion in crypto options expire today.
Investors are eyeing a broader recovery in the crypto market amid a slight rise in positive sentiment. CryptoQuant and other experts signaled a bottom near $53,600, but Bitcoin price recovered after CoinGape predicted Bitcoin price recovery amid technical chart strength.
Long and short liquidations across top crypto assets such as Bitcoin, ETH, XRP remain balanced, indicating traders are cautious amid other headwinds.
Crypto Prices Brace for Volatility Ahead of Bitcoin Options Expiry
According to Deribit data, almost 35K Bitcoin options contracts with a notional value of $2.2 billion are expiring on June 12. The put/call ratio is 0.67 and 24-hour call volume is also bullish at 0.70.
Moreover, the max pain price is at $66000, above the current Bitcoin price of $63,262. Traders are even opening calls for $68K and $70K calls for June 26. It indicates bias for upside momentum with implied volatility rising and 25-delta skew falling.
Deribit said “Despite recent volatility, positioning remains skewed toward calls across both assets.” It added that a put/call ratio below 1 signals a market that remains tilted toward upside exposure.
As CoinGape reported, Bitcoin price could form a double bottom on the daily chart, with massive support in the region. A reversal could happen from these levels, with support from massive trading volume and BTC options traders’ demand amid US-Iran peace deal.
Moreover, Bitcoin price is flashing a buy signal as it trades in the Fibonacci Golden Zone on the weekly chart, a critical pullback area. Also, the 200-WMA in the region indicates potential recovery towards $70,000, until price remains above the level.
Meanwhile, BlackRock Bitcoin ETF (IBIT) recorded $30.3 million in inflows after many days of massive outflows. Morgan Stanley and Grayscale spot Bitcoin ETFs also recorded inflows.
Crypto Bulls Hold Prices Ahead of ETH Options Expiry
$291 million in Ethereum options to expire today, with a put/call ratio of 0.62. It indicates traders are extremely bullish. However, put volume exceeded call volume in the last 24 hours, with a put/call ratio of 1.24.
The max pain price is at $1725, above the current market price of $1664. Deribit data shows there is 57% probabilty of Ethereum expiring above $1650 strike price. ETH implied volatility (IV) and a falling 25-delta skew indicate traders expecting a recovery in crypto prices.
Moreover, BlackRock Ethereum ETF (ETHA) saw $8.6 million in inflows. However, spot Ethereum ETFs recorded net outflows of $15.9 million.
XRP Options Expiry
$7.3 million in XRP options to expire today, with a put/call ratio of 1.10. The max pain price for XRP is at $1.15, indicating potential for a rebound amid broader upside momentum in crypto prices.
In the last 24 hours, put/call ratio increased to 1.23 as traders bet on XRP crypto price to fall in the coming weeks. This comes despite Kalshi having launched XRP perpetual trading and on-chain data signaling XRP rally if Binance inflows fall further.
Traders are not making large-scale bets on a one-sided crypto price recovery, but upside bias has surged. The next focus is on whether capital will flow back in and whether Bitcoin will stabilize.
If Bitcoin price holds above the 200-week moving average, a bottom will form for the next bull market. This could gradually bring back whales and large holders.
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