Greeks.live: Options data shows market enters wait-and-see mode, currently still in bear market

Mars Finance News: On March 12, Greeks.live posted on social media that “March 13 expiration data: 26,000 BTC options are expiring, with a Put-Call Ratio of 0.9, the maximum pain point at $69,000, with a notional value of $1.8 billion. 182,000 ETH options are expiring, with a Put-Call Ratio of 1.21, the maximum pain point at $2,000, with a notional value of $380 million. The crypto market continued to rebound this week, with Bitcoin once again crossing the $70,000 mark, but the rebound momentum is waning. According to options market data, implied volatility (IV) of short- and medium-term options decreased this week, while long-term options’ IV increased slightly. The main expiry IV for BTC is around 50%, for ETH around 70%, and the decline in RV is more noticeable. Tomorrow, only 6% of total open interest options are expiring, the lowest level in recent years, indicating that Bitcoin trading activity has reached an extremely low level. However, good news is that the maximum pain point this week finally stopped declining, ending months of downward movement with a rebound. In terms of trading volume, both institutional and retail, bullish and bearish options each account for a quarter of the volume, with no single option type dominating. According to major options data, skew has hardly fluctuated, showing the market has entered a wait-and-see phase. The market remains in a bear trend, and recent AI hype has not brought any improvement.”