Yesterday, WU Blockchain reported an improvement in short-term sentiment. A significant number of call options with strike prices of $18,000 and $19,000 for Bitcoin were purchased by block traders, with a minimum of 2,400 calls having a January 27 expiration date.
However, the options market has recently seen a resurgence in large-scale transactions. Data from Greeks.live revealed that in the last 24 hours, 7,400 BTC call options were traded, making up 46% of the daily turnover, while 52,000 ETH call options were traded, accounting for 35% of the total.
Greeks.live, the Professional Option Traders’ Arsenal, suggested that the recent observation of a large volume, which has not been seen in a long time, may indicate a positive change in the market.
Data from the last 24 hours has revealed that ETH put-sell transactions account for approximately 20.87%, and the corresponding BTC figure stands at 8.83%.
Additionally, Put buy orders for ETH are estimated to be around 15.35%, and the corresponding BTC figure is 7%. Moreover, ETH call sells and call buys are both about 11% and 15%, while the respective BTC percentages are 9.19% and 14.42%.
Bitcoin & Ethereum Price Review
According to Coinmarketcap, both leading coins, Bitcoin and Ethereum, are currently experiencing bullish trends. As of now, Bitcoin is trading at $17,459.69, with a 1.19% gain in the past 24 hours and a 3.50% gain in the past seven days. Similarly, Ethereum is trading at $1,334.83, with an increase of 0.55% in the past day and 6.75% in the past week.
As reported by TronWeekly yesterday, although the total value of USD transactions processed by the Bitcoin network has seen a sharp decline from its peak of $40 billion in Q3 2022 to $5.8 billion currently, the cryptocurrency has demonstrated a recovery of 5% within a week of entering the new year.
After three weeks of sharp decrease, Bitcoin’s value rebounded above $17,000 on January 8th and reached its highest daily point on January 10th at $17,389.96.
Over the course of 21 days, the currency remained within a limited range, with the highest point being only $16,900 above the lowest point of $16,400. Similarly, Ethereum broke through a key level after a period of more than three weeks and reached a trade value of $1,342.14 on January 9th.