Greeks.live: This Week the Crypto Market Begins to Rebound, But On-Chain Metrics Still Show Bearish Signs

BlockBeats News, April 17th, Greek.live posted on social media, saying, "April 17th Options Expiration Data: 22,000 BTC options expire, Put Call Ratio is 1.05, Max Pain at $72,000, notional value of $16.5 billion. 100,000 ETH options expire, Put Call Ratio is 0.95, Max Pain at $2,250, notional value of $4.6 billion."

The market continued its rebound this week, with Bitcoin oscillating around $75,000, indicating a market recovery and some concepts showing significant gains. The Bitcoin options market share has slightly decreased, while the altcoin market is heating up. In terms of open interest maturity, 70% of open positions in the options market are concentrated between April 24th and June 26th, especially around the end of May and April.

Looking at the main options data, Bitcoin's main term IV has dropped significantly this month, with IV for most terms falling to around 40%, and ETH's main term IV has also decreased to around 60%. Short-term IV remained stable this week while medium to long-term IV continued to decline. Skew continues to rise, the bearish sentiment is weakening, and opportunities are emerging in the market.

However, Bitcoin has still underperformed this year in both price and hype. Although this month's ongoing rebound market has some structural opportunities, crypto is still showing bear market characteristics based on indicators such as fund flows."