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Greeks.live: Bitcoin and Ethereum options with a notional value of $2.27 billion are expiring today
Deep Tide TechFlow News, April 10th, according to options analyst Adam@Greeks.live (@BTC__options), a total of 27k BTC options are expiring on April 10th, with a Put Call Ratio of 0.71, the maximum pain point at $69,000, and a notional value of $1.94 billion; 151k ETH options are expiring, with a Put Call Ratio of 0.77, the maximum pain point at $2,050, and a notional value of $330 million.
In terms of market conditions, this week, stimulated by news of a ceasefire between the US and Iran, BTC directly broke through $72,000, surpassing the recent sideways trading range. BTC options market share has continued to stay above 80%, with positions concentrated around the end of April and the end of June, mainly trading in April expiration options. Regarding volatility, BTC’s implied volatility (IV) for major maturities has sharply decreased to around 40%, while ETH’s IV for major maturities has also fallen to around 60%. The skew has continued to rise but with limited magnitude.
Analysts point out that this year, BTC has performed poorly in both price and popularity. Although this week saw a rare sustained rebound, indicators such as capital flow suggest that the cryptocurrency market is still driven by other markets, and all indicators point to characteristics of a bear market.