Ethereum price prediction: 68,199 puts in the money before the 9 a.m. expiry

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: at 9 a.m. Frankfurt time the derivatives exchange Deribit settles 333,649 Ethereum options, a fifth of total open interest. 68,199 puts stand in the money against 8,611 calls, and the price sits $157 below the point at which the exchange pays out the least on paper.Add as a preferred source on GoogleFollow on Google NewsHere is what is documented: on Friday, October 30, 333,649 Ethereum options expire on Deribit at 08:00 UTC, which is 9 a.m. in Frankfurt. That is 20.3 percent of all open contracts and, at an index level of $2,242.52, around $748 million in notional value. Our own read follows further down: the expiry does not explain the direction of the price, only why so little resistance is showing up. Ethereum trades at $2,243 on Friday morning. Overnight the price fell as far as $2,170, and the session high so far is $2,254 (Kraken, as of October 30, shortly before 7 a.m. UTC). Since October 1, when the month opened at $2,684, 16.4 percent has gone. For where the ...