Analysis Crypto by Thebittimes.Com

Wintermute Asia, a branch of the algorithmic trading firm Wintermute Group, has executed its first options block trade through CME Group, marking a significant collaboration between crypto and traditional financial markets. Wintermute Asia, a subsidiary of the algorithmic trading giant Wintermute Group, marked a significant milestone in the landscape of cryptocurrency derivatives trading. Wintermute Asia counterparties can now trade options with us on @CMEGroup! We executed our first options block trade , trade d with @TPICAPGroupPLC and cleared by @ABNAMRO. This step not only advances our offerings but also marks the growing convergence between crypto and tradfi. pic.twitter.com/fruz4MnCcg — Wintermute (@wintermute_t) November 21, 2023 On Tuesday, the firm announced its first successful execution of an options block trade through the CME Group, a noteworthy event in the realm of digital assets. This pioneering BTC/USD block trade , facilitated between Wintermute Asi...

Research Analyst Tom Dunleavy has highlighted that the event is set to take place tomorrow at 8:00 a.m. UTC. Dunleavy stated that the notional values of these expiring options are estimated to be approximately $2 billion for ETH and $5 billion for BTC, exceeding the value of the preceding quarter by $300 million. advertisement Current Price Movement of BTC and ETH Options expiry refers to the date on which derivative contracts, known as Options , reach their maturity. These contracts grant traders the right, but not the obligation, to buy or sell the underlying asset, in this case, Bitcoin or Ethereum, at a predetermined price within a specified time frame.  According to reports, the put/call ratio, which measures market sentiment, is 0.56 for Bitcoin and 0.57 for Ethereum, suggesting a bullish market outlook. Notably, when the put/call ratio falls within the range of 0.5 to 0.7, it generally indicates positive sentiment among traders.  Furthermore...

Significant headwinds continue to batter BTC, and this week’s options expiry is unlikely to provide any relief. Bitcoin (BTC) fell below a four-day narrow trading range near $22,400 on March 7 following comments by United States Federal Reserve Chair Jerome Powell before the Senate Banking Committee. During the congressional appearance, the Fed chairman warned that he bank is prepared to tame inflation by pushing for more significant interest rate increases. Powell added that “the ultimate level of interest rates is likely to be higher than previously anticipated” and that recent economic data was “stronger than expected.” These remarks significantly increased investors’ expectations of a 50 basis point interest rate hike on March 22, putting pressure on risk assets such as stocks, commodities and Bitcoin. That movement could explain why the $565 million Bitcoin weekly option s expiry on March 10 will almost certainly favor bears. Nonetheless, additional negative crypto market event...

BTC bulls could secure a $130 million profit in the Dec. 9 options expiry, but bears aim to balance the scales by keeping Bitcoin price below $17,000. Bitcoin (BTC) price crashed to $15,500 on Nov. 21, driving the price to its lowest level in two years. The 2-day-long correction totaled an 8% downtrend and wiped out $230 million worth of leverage long (buy) futures contracts.  The price move gave the false impression to bears that a sub-$15,500 expiry on the Dec. 9 options expiry was feasible, but those bets are unlikely to pay off as the deadline approaches. Year-to-date, Bitcoin price is 65% down for 2022, but the leading cryptocurrency remains a top 30 global tradable asset class ahead of tech giants like Meta Platforms (META), Samsung (005930.KS), and Coca-Cola (KO). Investors' main concern is still the possibility of a recession if the U.S. Federal Reserve raises rates for longer than expected. Proof of this comes from Dec. 2 data which showed that 263,000 jobs were created i...