【April 24th Options Settlement Data】

109k BTC options are expiring, with a Put Call Ratio of 0.93, the maximum pain point at $72,000, and a notional value of $8.55 billion.
563k ETH options are expiring, with a Put Call Ratio of 0.72, the maximum pain point at $2,200, and a notional value of $1.32 billion.
This week, the market continues to rebound, with Bitcoin strongly breaking through $78,000, and the Web3 conference in Hong Kong also filled with a cheerful atmosphere of upward movement, with altcoin markets also warming up. This is a monthly settlement, with 25% of options set to expire. Regarding position durations, the distribution of open interest in the options market shows 12% expiring at the end of May and 24% at the end of June.
From the main options data, Bitcoin's implied volatility (IV) for major maturities continues to decline this month, with most maturities' IV dropping by 1% to 2%, falling below 40%. ETH's IV for major maturities has decreased more, currently around 60%. Despite the price increase, skew has pulled back, and the market does not show FOMO sentiment.
In the second quarter of this year, Bitcoin has performed significantly better in both price and popularity compared to the first quarter. The ongoing rebound this month reflects capital inflows. If macroeconomic pressures bottom out by mid-year, Bitcoin's bottom will also be confirmed.