TechFlow news, Adam, macro researcher at Greeks.live, posted a tweet stating that 25,000 BTC options and 250,000 ETH options are about to expire.
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25,000 BTC options expiring, Put Call Ratio at 0.56, maximum pain point at $67,000, with a notional value of $1.7 billion.
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250,000 ETH options expiring, Put Call Ratio at 0.51, maximum pain point at $3,500, with a notional value of $890 million.
Last weekend's market rebound failed to sustain, as Bitcoin price could not hold above $70,000, causing the current uptrend to stall and triggering a deep market correction. Meanwhile, demand for Puts surged, with implied volatility sharply rising across major maturities; however, put open interest at expiry declined, indicating that a large number of puts have been closed profitably. After several weeks, the settlement prices have once again approached the maximum pain points, and market FOMO sentiment has largely disappeared.
