TechFlow news, Greeks.live disclosed on X that 94,000 BTC options are expiring today, with a Put Call Ratio (PCR) of 0.51, maximum pain point at $41,000, and a notional value of $3.75 billion. Additionally, 932,000 ETH options are expiring today, with a PCR of 0.31, maximum pain point at $2,300, and a notional value of $2.07 billion.
It stated: "Crypto markets weakened this week; the approval of Bitcoin spot ETFs directly triggered recent Grayscale sell-offs that overwhelmed the market. Volatility continues to decline, with major-term implied volatility (IV) still falling, and some short-term IV dropping below 40%. Meanwhile, PCR dropped significantly this week, indicating weakening bearish sentiment—most traders are primarily selling call options while active call positions remain scarce. Over 30% of options expire today, and as the Bitcoin options term structure normalizes, released margin capital could further suppress IV."
