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BTC $78,272.17 +2.55%
ETH $2,302.73 +1.88%
BNB $619.83 +0.51%
XRP $1.39 +2.06%
SOL $84.23 +1.32%
TRX $0.3262 +0.04%
DOGE $0.1088 +2.31%
ADA $0.2491 +1.00%
BCH $452.01 +2.17%
LINK $9.19 +0.81%
HYPE $40.81 +4.09%
AAVE $93.15 +0.07%
SUI $0.9235 +1.87%
XLM $0.1613 +1.55%
ZEC $367.57 +8.83%

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Analyst: The nominal value of $2.14 billion in options will expire, with Bitcoin performing significantly better in both price and popularity compared to the last three months

According to data from Greeks.live, a total of 23,000 BTC options are set to expire, with a Put Call Ratio of 1.13, a maximum pain point of $76,000, and a nominal value of $1.74 billion. Additionally, 175,000 ETH options will also expire, with a Put Call Ratio of 0.94, a maximum pain point of $2,325, and a nominal value of $400 million.Greeks.live analyst Adam stated that this week's market fluctuations are small, with Bitcoin hovering around $78,000, and market sentiment gradually becoming calmer. The short-term RV has significantly decreased, combined with monthly settlements releasing nearly a quarter of the position margin, leading to a noticeable decline in the implied volatility of major expiration options this week. The major expiration IV of Bitcoin has fallen below 40%, while the major expiration IV of ETH has decreased even more, with short-term IV dropping below 50% and medium to long-term also falling below 60%. From the main options data, the Skew remains relatively stable, and the market's directional sentiment remains slightly bearish. This week, only 6% of options are expiring, with about 25% of positions at the end of the month and about 30% of positions at the end of June. Block trades are relatively inactive, all of which are signals of consolidation. In April of this year, Bitcoin performed significantly better in both price and popularity compared to the previous three months, but the altcoin market has seen limited recovery. Currently, the focus is mainly on Bitcoin, and trading altcoins will require further waiting.

a16z Crypto proposed five recommendations for market regulation: the framework should not be overly conservative, and the CFTC should implement unified regulation

Miles Jennings, the policy head and general counsel of a16z Crypto, and others wrote "Getting prediction market regulation right," which points out that the current push by the Commodity Futures Trading Commission (CFTC) to reform the regulatory framework for prediction markets is at a critical juncture, as prediction markets are transitioning from niche products to important infrastructure.With the integration of AI and blockchain-driven new risk management models, prediction markets can enable AI agents to automatically hedge risks, adjust on-chain event contract positions in real-time, and play a core role in risk management, information aggregation, and authenticity judgment. a16z Crypto believes that if the regulatory framework is too conservative, it will limit the development potential of prediction markets. Therefore, they have submitted a comment letter providing opinions on key issues such as the application of statutory core principles and CFTC regulations in prediction markets, and public interest considerations related to event contracts. They also proposed five regulatory recommendations for prediction markets, including: the CFTC implementing unified regulatory authority over event contracts, optimizing contract dispute resolution mechanisms, strengthening monitoring of insider trading and market manipulation, re-evaluating "special rules," and exploring clearer compliance pathways for on-chain prediction markets.
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