Deribit exchange data reveals that the put-to-call ratio for Bitcoin options contracts is currently at 0.50, with a maximum pain point of $61,000.
Bitcoin (BTC) and Ether (ETH) options contracts worth a combined $2.4 billion are set to expire on May 3, which could lead to increased market volatility.
A Bitcoin options contract is a derivative contract that allows investors to speculate on Bitcoin price movements without owning Bitcoin itself.
There are two types: call and put options. Call options give investors the right to buy a cryptocurrency at a specific price before a certain date. Put options, on the other hand, allow investors to sell a cryptocurrency at a particular price before the expiry date.
