Q2 quarterly options delivery just settled! Time to bottom-fish BTC and ETH🤔?

153.5k $BTC ‌options + 1M $ETH ‌options, with a total notional value exceeding $10.6 billion.

The maximum pain points are at $70,000 and $2,000 respectively, while $BTC is near $59,370,

$ETH is near $1,545. A deviation of $10,000 and $450! 😱

What does this mean?

About 80% of call options on the market expired worthless out-of-the-money. Market makers have been selling in the spot market to hedge.

But here's the key—this bomb of delivery has already exploded. 💣

🔍 The chart is speaking:

On the BTC 1-hour timeframe, the Bollinger Band midline is at $59,411, and the EMA5 has crossed above EMA10. Bearish momentum MACD green bars are shrinking, shorts are retreating.

On the ETH 15-minute timeframe, it's more obvious, rebounding from the $1,511 low to $1,545, with RSI6 surging from 25 to 47. Bottom-fishing capital is coming in.

🐳 The big whale has already made its move:

According to monitoring, just 2 hours ago, a whale sold 464 BTC (about $27.56 million) and swapped to buy 17,750 ETH.

Whales are buying ETH. This is an important signal.

📊 Support levels are clear:

Below BTC, $58,000-$58,500 is a strong support zone.

First resistance above is $60,500, and only after breaking through can we look at $61,700.

For ETH, the bottom is $1,511 below, and the resistance above is $1,585.

But don't rush into FOMO:

The end of options delivery does not mean a direct takeoff. Data shows that BTC has negative gamma in the $60,000-$64,000 range, meaning there could still be fluctuations in the short term.

Institutions have not continued betting on a decline; they were just waiting for the delivery to settle. Now that delivery is over, it's time to choose a direction.

💡 My view:

When the bad news is fully priced in, it's good news. The maximum pain point is far above the current price, indicating that most of the selling pressure has been released in advance. Whales made a big swap to ETH near $1,500, and this price level already offers good value.

Now it depends on whether buying can effectively absorb. If we can hold $59,000 and $1,520, the start of Q3 is worth looking forward to.

Remember: When others are panicking, whales are quietly accumulating. 🧠

What do you think? After delivery settles, will it go up or continue to grind the bottom? Can Ethereum hold 1500 tonight? Share your views in the comments! 👇
#BTC下探60000美元关键关口