After opening higher this Wednesday morning (24) amid the advance of ETFs (index funds) in sight of cryptocurrencies in Hong Kong, Bitcoin (BTC) turned to fall with traders keeping an eye on market maturities. digital currency options.
Almost US$9.5 billion in cryptocurrency options will expire on Friday (26) on the derivatives exchange Deribit, according to data compiled by the portal The Block. There are US$6.35 billion in BTC contracts and US$3.08 billion in Ethereum (ETH).
An option contract gives the investor the right, but not the obligation, to buy or sell the underlying asset (in this case, a crypto) at a predetermined price. A put option indicates some pessimism, while a call option signals the opposite.
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In the case of BTC, according to data from Deribit, there was an increase in put options about to expire, a change in relation to the scenario seen last week, before the fourth halving, an update that cut new Bitcoin issuance in half. In relation to Ethereum, however, there are more purchase options.
At around 2:40 pm, the largest cryptocurrency on the market is trading at US$64,750, down -3.00% in the last 24 hours. Ethereum (ETH), BNB Chain (BNB) and the main altcoins also operate lower this afternoon.
Despite the short-term turbulence, the derivatives market indicates that long-term sentiment continues bullish (bullish) on BTC. The largest open contracts expiring at the end of 2024 are call options with a strike price of $100,000.
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Volatile market
Taiamã Demaman, research leader at Coinext, said that it is ideal for investors to understand that the crypto market continues to be highly volatile, especially amid global uncertainties, both economic and geopolitical.
“Monitoring the indicators of the main economies and the evolution of regional conflicts must be a continuous exercise. After all, we are not clear whether, in the event of a broad crisis, Bitcoin would follow the fall of traditional markets or behave as an anti-fragile asset.”
Israel Buzaym, crypto specialist at Bitybank, said that it is crucial to reinforce the need for cryptocurrency investors to maintain a long-term horizon when allocating to crypto. “We need to learn to deal with volatility in the short term.”
Check out the performance of the main cryptocurrencies at 2:40 pm:
| Cryptocurrency | Price | Variation in the last 24 hours |
| Bitcoin (BTC) | $64,750 | -3.00% |
| Ethereum (ETH) | $3,171 | -2.00% |
| BNB Chain (BNB) | $599 | -1.60% |
| Solana (SOL) | $151 | -4.20% |
| XRP (XRP) | $0.5312 | -3.70% |
The cryptocurrencies with the biggest gains in the last 24 hours:
| Cryptocurrency | Price | Variation in the last 24 hours |
| Bonk (BONK) | $0.00002533 | +11.70% |
| Algorand (ALGO) | $0.2135 | +10.40% |
| Hedera (HBAR) | $0.1204 | +8.30% |
| Ondo (ONDO) | $0.8639 | +5.20% |
| dogwifehat (WIF) | $3.21 | +4.50% |
The cryptocurrencies with the biggest drops in the last 24 hours:
| Cryptocurrency | Price | Variation in the last 24 hours |
| Beam (BEAM) | $0.02772 | -10.10% |
| Bittensor (TAO) | US$462.25 | -9.40% |
| I know I know) | $0.5948 | -9.00% |
| Wormhole (W) | $0.5548 | -9.00% |
| Zebec Protocol (ZBC) | $0.02878 | -8.90% |
Check out how cryptocurrency ETFs closed in the last trading session:
| ETF | Price | Variation |
| Hashdex NCI (HASH11) | R$ 50.41 | -2.11% |
| BTCN Hashdex (BITH11) | R$ 77.50 | -2.27% |
| Hashdex Ethereum (ETHE11) | R$ 47.98 | -0.55% |
| Hashdex DeFi (DEFI11) | R$ 29.46 | -3.09% |
| Hashdex Smart Contract Platform FI (WEB311) | R$ 33.20 | -2.35% |
| Hasdex Crypto Metaverse (META11) | R$ 48.50 | -1.86% |
| QR Bitcoin (QBTC11) | R$ 20.91 | -1.32% |
| QR Ether (QETH11) | R$ 11.72 | -0.92% |
| QR DeFi (QDFI11) | R$ 4.09 | -0.48% |
| Crypto20 EMPCI (CRPT11) | R$ 14.20 | -1.11% |
| I invest in NFTSCI (NFTS11) | R$ 10.39 | -3.43% |
| I invest BLOKCI (BLOK11) | R$ 188.15 | -2.70% |
Tags: Bitcoin Falls Billion Cryptocurrency Options Set Expire
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