BTC and ETH options with a nominal value of $8.9 billion will expire and settle tomorrow. Options market data shows initial signs of bottom-fishing strength.

BTC-3,63%
ETH-4,53%

BlockBeats News, February 26 — According to Greeks.live data, 116,000 BTC options will expire this Friday. The Put-Call Ratio is 0.76, with the maximum pain point at $75,000 and a notional value of $7.9 billion.

206,000 ETH options will also expire this Friday. The Put-Call Ratio is 0.77, with the maximum pain point at $2,200 and a notional value of $980 million.

Greeks.live analyst Adam stated that the current crypto market remains sluggish. In early February, Bitcoin briefly dropped to the $60,000 level, and throughout February, the market has been weakly oscillating above $60,000.

Tomorrow, options accounting for 20% of total holdings will expire, totaling nearly $9 billion, with Bitcoin holdings reaching a multi-year high. Thanks to recent rebounds, implied volatility for Bitcoin and Ethereum has increased this week. BTC’s main-term IV is at 47%, and ETH’s main-term IV is at 65%. The downward price trend has eased, but market confidence remains insufficient.

In terms of trading volume, large bullish options dominate. After yesterday’s rebound, there has been a surge in medium- and long-term bullish trades. According to key options data, skew has also rebounded across the board, indicating market bottom-fishing activity.

Adam added that the market is still in a bear phase. The crypto space lacks new capital and clear hotspots. Pessimistic sentiments are prevalent on social media, and bottom panic may not have arrived yet.

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