【March 13 Options Settlement Data】

26,000 BTC options expiring, Put Call Ratio of 0.9, maximum pain point at $69,000, notional value of $1.8 billion.
182,000 ETH options expiring, Put Call Ratio of 1.21, maximum pain point at $2,000, notional value of $380 million.
The crypto market continued to rebound this week, with Bitcoin reclaiming the $70,000 round number again, though rebound momentum is decreasing. From options market data, short-term and medium-term options IV declined this week, while long-term options IV increased, but the magnitude of changes was minimal. BTC's primary term IV stands at 50%, ETH's primary term IV at 70%, with RV declining more noticeably.
Tomorrow only 6% of total open interest expires, representing the lowest level in recent years, indicating that Bitcoin trading activity has reached an extremely low level. However, there is good news that this week's maximum pain point finally stopped declining, ending months of continuous descent with a rebound.
In terms of trading volume, bulk transactions and market depth each account for one quarter of volume, with calls and puts evenly distributed, with no single option type dominating. From major options data, Skew shows almost no fluctuation, with the market clearly entering a wait-and-see mode. The market remains in a bear trend, and recent AI enthusiasm has brought no improvement.