Bitcoin and Ethereum Options Expiry Amid Market Volatility

[email protected] posted on X. On February 27, a significant number of Bitcoin and Ethereum options are set to expire, with 116,000 BTC options and 206,000 ETH options reaching maturity. The Put Call Ratio for Bitcoin stands at 0.76, with a maximum pain point of $75,000 and a nominal value of $7.9 billion. For Ethereum, the Put Call Ratio is 0.77, with a maximum pain point of $2,200 and a nominal value of $980 million. The cryptocurrency market remains sluggish, with Bitcoin having briefly dipped below the $60,000 mark earlier in February. Throughout the month, Bitcoin has experienced weak fluctuations above this level. Tomorrow, options accounting for 20% of total open interest, amounting to nearly $9 billion, will expire. Bitcoin's open interest has reached a peak not seen in recent years. Thanks to a recent rebound, the implied volatility for both Bitcoin and Ethereum has increased, with BTC's main term IV at 47% and ETH's at 65%. This has somewhat alleviated the downward price trend, although market confidence remains low. In terms of trading, large-scale call options have dominated, especially following yesterday's rebound, with significant medium to long-term call transactions. Key options data indicates a comprehensive rebound in Skew, suggesting the emergence of market bottom-fishing forces. Despite these developments, the market remains bearish. The cryptocurrency sector lacks new capital inflows and notable hotspots, with pessimistic sentiments prevalent on social media. It appears the market bottom has yet to be reached.