TechFlow news, Adam, macro researcher at Greeks.live, released options settlement data for February 2:
-
22,000 BTC options are expiring, with a Put Call Ratio of 0.66, maximum pain point at $42,000, and a notional value of $960 million.
-
230,000 ETH options are expiring, with a Put Call Ratio of 0.33, maximum pain point at $2,300, and a notional value of $530 million.
He noted that the crypto market has been relatively stable this week, with both realized volatility (RV) and implied volatility (IV) across major tenors showing a downward trend. With Grayscale's selling slowing down, Bitcoin spot ETFs are beginning to bring incremental capital into the crypto market. Block trading activity has been muted, with some whales reducing positions, primarily betting on profit-taking from ETFs. The next major catalyst will be speculation around the Bitcoin halving; the bullish sentiment remains intact for this year.
