The Bitcoin (BTC) price has been showing major strength ahead of the Friday options expiry surging past $65,000 levels for the first time since August 1. A total of $5.8 billion BTC options are set to expire today along with the PCE inflation data release for the month of August. Similarly, ETH options with $1.9 billion in notional value will expire today.
BTC, ETH Options Expiry on the Radar
As per the Deribit data, a total of 89,027 Bitcoin options will expire today with a notional value of $5.8 billion, and a put call ratio of $0.64 suggesting bullish sentiment ahead. Also, the max pain point for BTC options currently stands at $59,000.
Courtesy: Deribit
As we know, $65,000 has been historically a major resistance for Bitcoin. Thus, bulls need to defend this level for the Bitcoin price rally to continue. The Bitcoin price is currently trading at $65,365.65 with the highest September gains over the past decade.
On the other hand, the spot Bitcoin ETFs saw major inflows on Thursday, s
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