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Bitcoin and Ethereum options with a notional value of $9.87 billion will expire and be settled on April 24.
ME News message: On April 24 (UTC+8), Greeks.live macro researcher Adam posted on the X platform the options settlement data for April 24: 1. 109,000 BTC options expired, with a Put Call Ratio of 0.93, a maximum pain point of $72,000, and a notional value of $8.55 billion. 2. 563,000 ETH options expired, with a Put Call Ratio of 0.72, a maximum pain point of $2,200, and a notional value of $1.32 billion.
This week’s market has continued to rebound. Bitcoin has strongly broken through $78,000, and the Web3 conference in Hong Kong is filled with an upbeat atmosphere for gains. The altcoin market is also starting to warm up again. This time is a monthly settlement, with 25% of the options set to expire. As for holding period, the distribution of open interest in the options market shows 12% at the end of May and 24% at the end of June.
From the major options data, Bitcoin’s main-tenor IV has continued to decline throughout this month. Most tenor IVs have fallen by 1% to 2%, dropping below 40%. ETH’s main-tenor IV has fallen even more, and is currently around 60%. Despite the price increase, Skew has come off somewhat, and the market does not have any FOMO sentiment.
In the second quarter of this year, Bitcoin has clearly outperformed the first quarter in both price and “heat.” This month’s sustained rebound reflects fund inflows. If macro pressure bottoms out by mid-year, then Bitcoin’s bottom will also be confirmed.
(Source: ODAILY)