Greeks.live: The crypto market currently lacks new funds and new narratives, and there is still no sign of reversal in the short term after the quarterly delivery

Odaily Planet Daily News Greeks.live analyst Adam wrote, "Option delivery data on March 28: 139,000 BTC options expired, Put Call Ratio was 0.49, the maximum pain point was $85,000, and the nominal value was $12.1 billion. 301,000 ETH options expired, Put Call Ratio was 0.39, the maximum pain point was $2,400, and the nominal value was $2.13 billion. This week is the quarterly delivery. The overall market in the first quarter was not as expected by most people. The volatility during the period was also relatively large, and it finally closed at a lower price in the range. The delivery volume accounted for more than 40% of the total positions, of which the delivery volume of BTC options accounted for nearly 80% of the total delivery volume, and the delivery volume of ETH options accounted for nearly 20% of the total delivery volume. The largest Sol among other currencies was only 2%. Although ETH has been questioned by many people, the market structure of positions remains. Implied Volatility IV A slight decline, BTC's main term volatility fell below 50% across the board, and ETH's main term volatility remained around 60% overall. Cryptocurrency currently lacks new capital and new narratives, and investor sentiment has begun to become sluggish. There is still no sign of reversal in the short term after quarterly delivery, and large investors are increasingly selling double. Option market makers have increased their selling intensity again, and short-term IV still has room to fall, so it will be more difficult for buyers to do it next. ”