BTC Options 

• Expiry: August 22, 2025 
• Put-Call Ratio (PCR): 0.66 
• Max Pain Level: $118,000 
• Notional Value: $3.82 billion 
• Expired Contracts: 34,000 

BTC’s short-term implied volatility (IV) rose above 35%, showing a strong recovery. This indicates high market expectations for price fluctuations. 

ETH Options 

• Expiry: August 22, 2025 
• PCR: 0.46 
• Max Pain Level: $4,250 
• Notional Value: $950 million 
• Expired Contracts: 220,000 

ETH’s main-term IV stayed below 70%, while short-term IV rose above 80%, reflecting increased volatility expectations. 

BTC and ETH traded near historical highs this week, with a market theme of price correction. Investor sentiment remained relatively optimistic. Additionally, recent block trades occurred in both bullish and bearish positions, creating clear divergence in the options market. 

BTC Options Scenarios and Macro Impacts 

According to Deribit price trends, five BTC price ranges show option imbalances: 

• $105,000–$110,000: Call options $210M, put options $2.66B. Accordingly, put options hold a $2.45B advantage. 
• $110,100–$114,000: Call $420M, put $1.94B. In this range, puts are $1.5B more favorable. 
• $114,100–$116,000: Call $795M, put $1.15B. As a result, puts have a $360M advantage. 
• $116,100–$118,000: Call $1.3B, put $830M. Accordingly, calls hold a $460M advantage. 
• $118,100–$120,000: Call $1.7B, put $560M. In this case, calls are $1.1B more favorable. 

For bullish strategies to gain momentum, BTC must surpass $116,000 by August 29. However, the most critical level is $114,000, where bears are highly motivated to push prices down. 

Macro Factors and Market Pressure 

FED decisions and technology stock pressures will play a key role in BTC’s direction. Morgan Stanley warned that large tech companies may have limited capacity for share buybacks. Meanwhile, cautious equity markets increase investor concerns. Worries about the AI sector, combined with options market activity, could affect BTC’s short-term performance. 

BTC options expirations and macro pressures from the tech sector will determine whether the bull run has truly ended. At the same time, this situation may only represent a temporary pause. 

The options market continues to price future volatility strongly. Additionally, max pain levels and PCR ratios remain crucial indicators for short- and mid-term strategies. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post BTC & ETH Options Report: Will the Bull Run Continue? appeared first on Coin Engineer.

The rally quickly triggered profit-taking, leading to sharp pullbacks across the board. Altcoins largely missed out on the upside, making Bitcoin the sole focus once again. Despite the bullish move, the market remains in uncertain territory.

A Fair Value Gap Has Emerged

Following this surge, technical analysis reveals an upward Fair Value Gap (FVG) between the levels of $110,500 and $109,809. This gap suggests that a price retracement to this region is quite possible.

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Currently, this zone serves as the nearest support area. A bounce from here could confirm its validity. However, any sustained move below it may trigger a deeper correction phase, warning investors to stay cautious.

The 112,000 Dollar Level Stands As A Barrier

To continue the rally, Bitcoin must overcome a crucial resistance at $112,000. This level is significant both psychologically and technically. A clear breakout could signal the beginning of a new bullish leg.

On the other hand, a rejection at this level could pull BTC back into the FVG zone for consolidation. These two zones—resistance and support—will likely define the short-term direction of the crypto market.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Hits New High, But Is the Danger Over? appeared first on Coin Engineer.