Bearish September Arrives: What Options Data Point to for Bitcoin (BTC) and Ethereum (ETH)

While the downward trend in Bitcoin, Ethereum and altcoins continues, the expiration date for option contracts in the crypto market has come today, as it does every Friday.

According to the first weekly data for September, $3.36 billion worth of Bitcoin and $1.28 billion worth of Ethereum options will expire on September 5 on the Deribit derivatives exchange.

Accordingly, the Put/Call Ratio of BTC options is 1.42, the maximum loss point is $112,000 and the notional value is $3.36 billion.

When we look at Ethereum, ETH options have a Put/Call Ratio of 0.77, a maximum loss point of $4,400, and a notional value of $1.28 billion.

Looking at the put/call ratio, we see that it’s 1.42 for Bitcoin and 0.77 for ETH. These ratios indicate a cautious but optimistic outlook for Ethereum in the market, with buy orders outnumbering sell orders and options traders bullish.

However, the same is not true for Bitcoin. A ratio of 1 to 42 indicates that sell orders outnumber buy orders, suggesting that options traders are bearish and positioning themselves for a potential drop.

Analysts at Greeks.live noted that the Bitcoin price correction has been ongoing for almost a month, while the Ethereum pullback has been ongoing for two weeks. Furthermore, they highlighted that September has historically been a challenging month for crypto.

Analysts stated that September caused general market weakness, and that the options market, in general, showed a downward trend, lacking confidence in September’s performance.

*This is not investment advice.

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