TechFlow news, November 14 — Adam, macro analyst at Greeks.live, posted on social media stating, "41,000 BTC options expired with a Put Call Ratio of 0.61, maximum pain point at $105,000, and notional value of $3.95 billion.
228,000 ETH options expired with a Put Call Ratio of 0.59, maximum pain point at $3,475, and notional value of $730 million.
Both Bitcoin and Ethereum prices continue to decline. BTC has already broken below the $100,000 psychological level without clear signs of rebound. ETH has recorded three consecutive monthly bearish candles, and market sentiment is shifting from neutral to negative.
Judging from major options data, implied volatility has risen across the board. BTC's short-to-medium term IV is approaching 50%, averaging around 45%. ETH's IV across major maturities is uniformly above 70%, with short-to-medium term IV nearing 100%, indicating continuously increasing volatility expectations.
BTC put option block trading volume and transaction share continue to rise, with 30% transaction share now being typical. Risk aversion is currently the primary objective. This year’s Q4 performance can be considered the worst in years. Due to macroeconomic uncertainties and other factors, market divergence is large, and leveraged positions are not advisable."
