COINOTAG News reported on January 17th, highlighting that a significant expiration of 22,000 BTC options occurred, resulting in a Put Call Ratio of 0.95. The max pain point was noted at $96,000, reflecting a notional value exceeding $21.9 billion. In addition, the expiration of 182,000 ETH options was observed, with a lower Put Call Ratio of 0.36 and a max pain point at $3250, totaling a notional value of $6.1 billion. Following these events, Bitcoin managed to rebound above $100,000, alleviating some of the previous weekend’s subdued market sentiment. However, the majority of altcoins displayed relatively weak performance, keeping the spotlight on Bitcoin.
Interestingly, the implied volatility for short-term options has surged, indicating growing confidence in a rally towards $105,000. As Donald Trump prepares for his presidency, market observers are keenly watching for any regulatory changes that could impact the cryptocurrency landscape this month. Concurrently, the U.S. stock market has seen slight recovery, and the upcoming interest rate meeting is expected to uphold current rates. This week promises to be pivotal as the new administration’s policies and potential ETF inflows could significantly shape market dynamics.