23,000 BTC options and 147,000 ETH options will expire today, with a total nominal value of 2.87 billion US dollars

Adam, a macro analyst at Greeks.live, posted on the X platform stating that 23,000 BTC options are expiring with a Put Call Ratio of 1.11 and the biggest pain point is $97,000 USD with a nominal value of $2.3 billion USD. Also, 147,000 ETH options are expiring with a Put Call Ratio of 0.62 and the biggest pain point is $3500 USD with a nominal value of $570 million USD.

Adam analyzed that the bullish forces in the entire crypto market are very strong. The data from recent two periods in option markets have consistently shown that market makers are relatively cautious; hitting 100k plus today's pullback has led to significant growth in short-term IV (Implied Volatility). Options are very suitable for short-term speculation at this time node. It seems reasonable what was mentioned last week about institutions worrying about replicating end-of-2020 trends; medium-to-long term IV also has several points increase as market makers try to avoid exposure now when there's an extremely high probability for continued bull market.