23,000 BTC options expiring, Put Call Ratio at 0.88, Maximum Pain at $70,000, notional value of $1.6 billion. 176,000 ETH options expiring, Put Call Ratio at 1.04, Maximum Pain at $2,150, notional value of $370 million. The crypto market's current rally has come to an end. Bitcoin briefly fell below the $70,000 round number, with $75,000 frequently mentioned as a key resistance level over the past week. Monthly options show 5% concentration at this price level. The breakthrough ultimately failed and prices retreated to around $70,000. Next Friday is the quarterly settlement. From options market data, 75K is the most concentrated position price and an absolute resistance level. Below that, 65K/62K/60K are all dense position areas that can be considered support on downside. This week, the IV and RV of major tenor options basically remained unchanged, with BTC's main tenor IV at 50% and ETH's main tenor IV at 70%. RV continues to decline, causing VRP to continue rising. Only options accounting for 5% of total positions are expiring, continuing to reach the lowest level. Despite volatility, Bitcoin's trading activity remains at an extremely low level. Due to price decline, Skew has declined across the board. The market is still in a bear trend, and bullish momentum is extremely fragile.
【March 20th Options Settlement Data】
23,000 BTC options expiring, Put Call Ratio at 0.88, Maximum Pain at $70,000, notional value of $1.6 billion.
176,000 ETH options expiring, Put Call Ratio at 1.04, Maximum Pain at $2,150, notional value of $370 million.
The crypto market's current rally has come to an end. Bitcoin briefly fell below the $70,000 round number, with $75,000 frequently mentioned as a key resistance level over the past week. Monthly options show 5% concentration at this price level. The breakthrough ultimately failed and prices retreated to around $70,000.
Next Friday is the quarterly settlement. From options market data, 75K is the most concentrated position price and an absolute resistance level. Below that, 65K/62K/60K are all dense position areas that can be considered support on downside. This week, the IV and RV of major tenor options basically remained unchanged, with BTC's main tenor IV at 50% and ETH's main tenor IV at 70%. RV continues to decline, causing VRP to continue rising.
Only options accounting for 5% of total positions are expiring, continuing to reach the lowest level. Despite volatility, Bitcoin's trading activity remains at an extremely low level. Due to price decline, Skew has declined across the board. The market is still in a bear trend, and bullish momentum is extremely fragile.