Greeks.live: 28,000 BTC options expire, multiple indicators show bear market characteristics

CycleProphet · 2026-04-03T06:19:43+00:00

On April 3rd, 28,000 BTC options and 156,000 ETH options will expire. The BTC Put-Call Ratio is 0.54, and ETH is 0.73. Market activity and market share indicate that BTC is outperforming ETH. However, BTC's performance in the first quarter was poor, and rebuilding market confidence will take time.

CycleProphet

2026-04-03 06:19:43

Abstract generation in progress

Deep Tide TechFlow message. April 03, according to data from Greeks.live macro researcher Adam (@BTC__options): on April 3, a total of 28,000 BTC options expired. The Put Call Ratio was 0.54, the maximum pain point was $68,000, and the notional value was $1.8 billion. In addition, 156,000 ETH options expired. The Put Call Ratio was 0.73, the maximum pain point was $2,075, and the notional value was $320 million. BTC options market share has already clearly exceeded 80%, and trading activity is higher than that of ETH. From the main options data, BTC’s main-term IV has fallen below 51%, ETH’s main-term IV has dropped to below 70%, and RV continues to decline. Adam noted that this year’s first quarter saw BTC perform poorly in both price and momentum. The first week of the second quarter was also weak, compounded by multiple DeFi projects blowing up. All indicators point to bear-market characteristics, and rebuilding market confidence still requires time and funding support.

BTC0,03%

ETH-0,18%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.