22,000 BTC options and 211,000 ETH options will expire today

ChainCatcher news, Greeks.live macro researcher Adam posted on the X platform that 22,000 BTC options will expire today, with a Put Call Ratio of 1.1 and a maximum pain point of $44,000, with a notional value of $890 million. Additionally, 211,000 ETH options will expire today, with a Put Call Ratio of 0.55 and a maximum pain point of $2,500, with a notional value of $520 million.

Adam stated that the impact of the current Bitcoin spot ETF has basically dissipated, with volatility significantly decreasing, and the main term IV plummeting, bringing the maximum pain point close to the delivery price for the first time this year. This week, the PCR reached 1.1 for the first time in a bull market, indicating that bearish forces are prevailing this week. The approval of the Bitcoin spot ETF is expected to bring a large influx of incremental funds to the crypto market in the long run, with Grayscale's selling pressure and support from other ETFs balancing each other out. The next big hotspot may be the speculation around the halving, and it is clear that this year has a bullish tone.