BTC and ETH options with a notional value of $1.97 billion will expire and settle today, with quarterly settlement arriving next Friday.

Mars Finance News: On March 20, according to Greeks.live data, 23,000 BTC options are expiring today. The Put-Call Ratio is 0.88, with a maximum pain point at $70,000 and a notional value of $1.6 billion. Additionally, 176,000 ETH options are expiring today, with a Put-Call Ratio of 1.04, a maximum pain point at $2,150, and a notional value of $370 million. Greeks.live analyst Adam stated that the current crypto market rebound has ended. Bitcoin briefly fell below the $70,000 mark. Over the past week, $75,000 has been frequently mentioned as a key resistance level, with 5% of options expiring at this price by the end of the month. The failure to break through this level caused a pullback to around $70,000. Next Friday marks the quarterly settlement. Based on options market data, $75,000 is the most concentrated open interest level and a major resistance. Below that, $65,000, $62,000, and $60,000 are areas of high open interest, serving as support levels. The implied volatility (IV) and realized volatility (RV) of major options expirations this week remained mostly unchanged. BTC’s main-term IV is around 50%, ETH’s is about 70%, and RV continues to decline, causing the Volatility Risk Premium (VRP) to rise. Only 5% of total open interest options are expiring, reaching the lowest levels despite volatility. Although there are fluctuations, Bitcoin trading activity remains extremely low. As prices pull back, Skew declines across the board, indicating the market is still in a bear phase, and bullish momentum is very fragile.