Crypto Prices Brace for Volatility, $5B in Bitcoin, Ethereum, XRP Options Expire

Meanwhile, veteran trader Peter Brandt pointed out that gold went into a long-term bearish trend against Bitcoin. This is poised to increase investors confidence to invest in Bitcoin instead of gold.

BTC price was trading 1.70% higher at $116,970 at the time of writing. The 24-hour low and high were $114,792 and $117,689, respectively.

Furthermore, the trading volume has increased by 23% in the last 24 hours, indicating a rise in interest among traders.

Ethereum Price Set to Hit $4,000 After Expiry？

Crypto market prices also awaits the potential impact of the Ethereum options expiry. 223K ETH options with a notional value of almost $0.87 billion are set to expire.

The put-call ratio was 1.14, suggesting a bearish sentiment among traders as puts dominated calls. Also, the max pain point was $3,675, indicating that a pullback may happen amid delivery.

However, ETH options traders were focusing on $4,000 as a key resistance level and the impact of interest rate cut expectations on market momentum.

Ethereum Options Open Interest | Source: Deribit

In the last 24 hours, put volume was lower than the call volume, with a put-call ratio of 0.76. This suggested a rebound in the ETH price expected by traders.

Analyst Michael van de Poppe predicted Ethereum price to hit $4K resistance in the coming days. He added that markets remained strong, with volume picking up and an upside trend signal.

ETH price jumped 5% in the past 24 hours, with the price trading at $3,895. The 24-hour low and high were $3,716 and $3,964, respectively.

XRP Price En Route to $4 as Ripple vs SEC Lawsuit Ends

In other crypto market news, 2,527 XRP options with a notional value of more than $8.45 million are set to expire on Friday. The put-call ratio was 0.51, suggesting bullish sentiment among traders.

The max pain point was $3.10, below the market price of $3.31 at the time of writing. However, traders expect the price to remain bullish as long-running Ripple vs SEC lawsuit ended after a joint filing by the parties to drop their appeals.

XRP Options Open Interest | Source: Deribit

Analyst Ali Martinez predicted a price target of $3.34 after breaking out of a triangle. XRP price is expected to hit a new ATH as whales and institutions bet big, as The Coin Republic reported earlier.

Hourly Chart – XRP price| Source: Ali Martinez

XRP price pared its earlier 13% spike in the last 24 hours, with the price changing hands at $3.31. The intraday low and high were $3.01 and $3.38, respectively.

Moreover, trading volume skyrocketed massively by more than 191%. It signals further upside in XRP price due to support from investors.