23,000 BTC options are about to expire with a Put Call Ratio of 0.87, a Maxpain point of $58,000 and a notional value of $1.34 billion. 127,000 ETH options are due to expire with a Put Call Ratio of 0.73, a Maxpain point of $2,400 and a notional value of $298 million. Crypto rallied overall this week while volatility expectations in the market are declining. Maxpain point is once again keeping up with the price. Major term IVs all declined as expectations of a 25 bps Fed rate cut next week converged. September market was weak as expected, with ETH in particular extremely weak. The exchange rate against BTC has fallen below the long term support level of 0.04 and the engine of the next bull market still looks to be BTC.
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