Analyst: $2.27 Billion Nominal Value of Options Set to Expire Today, Bitcoin Metrics Still Point to Bear Market Characteristics

BlockBeats News, April 10th, according to Greeks.live data, a total of 27,000 BTC options expired on April 10th, with a Put Call Ratio of 0.71, a max pain point of $69,000, and a notional value of $1.94 billion.

In addition, 151,000 ETH options expired, with a Put Call Ratio of 0.77, a max pain point of $2,050, and a notional value of $330 million.

Greeks.live analyst Adam stated that this week's market was stimulated by the US-Iran ceasefire, with Bitcoin directly breaking through $72,000, surpassing the recent consolidation range. Bitcoin options market share continues to exceed 80%. In terms of expiration, the most held are the end of April and end of June, with trading mainly focused on the monthly expiration of the end of April.

Looking at the major options data, Bitcoin's main expiration IV has dropped significantly, with IV for most expirations falling to around 40%, and ETH's main expiration IV has also dropped to around 60%. Skew continues to rise, but the magnitude is not significant.

This year, Bitcoin has performed poorly in both price and hype. This week saw one of the few sustained rebound rallies. However, looking at indicators such as fund flows, the cryptocurrency market is still being driven by other markets, and its own indicators point to bearish characteristics.