Bitcoin & Ethereum on Edge: $17 Billion Options Expiry and U.S. Inflation Data Could Trigger Market Shake-up
BTC and Ethereum are gaining upside momentum as bulls continue to hold key support levels. However, this bullish streak may be tested on June 27, when over $17 billion in BTC and ETH options expire, and the U.S. PCE inflation data—a key economic indicator—gets released.
💰 Bitcoin Options: Max Pain at $102K
- 139,000 BTC options worth $15B are set to expire.
- Put/Call Ratio sits at 0.74, signaling a slightly bearish sentiment.
- Max pain point at $102,000 suggests a possible correction in BTC price.
- Open interest data points to cautious positioning by traders.
⚡ Ethereum Options: Sentiment Weakening
- 936,000 ETH options worth $2.3B will also expire.
- Current Put/Call Ratio is 0.52, but 24hr ratio rose to 0.95, suggesting growing bearishness.
- Max pain sits at $2,200.
🧨 Macro Risk: PCE Inflation Data Incoming
- June PCE inflation is expected to rise to 2.3% from 2.1%, signaling persistent inflation.
- Fed Chair Jerome Powell’s hawkish tone and resistance to rate cuts may spook the markets further.
🔍 On-chain and Price Action
- CryptoQuant’s MVRV Ratio indicates a late-stage bull market.
- BTC trades at $107,199, down from the 24hr high of $108,305, with volume down 7%.
- ETH trades at $2,436, off highs of $2,519, though volume rose 13%, signaling renewed trader interest.
With both options expiry and macroeconomic data converging, traders should prepare for heightened volatility and potential retracement. Monitor volumes and liquidation levels closely.
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