Greeks.live: $2.4 billion worth of options will expire today, weakening confidence in the crypto market

ChainCatcher news, according to data from Greeks.live, 23,000 BTC options will expire today, with a maximum pain point of $61,000 and a nominal value of $1.4 billion. 330,000 ETH options will expire today, with a maximum pain point of $3,000 and a nominal value of $1 billion.

Greeks.live researcher Adam stated that the cryptocurrency market continues to decline this week, with BTC breaking through the $60,000 mark, reaching a new low since March, showing significant weakness. The listing of the Hong Kong ETF has not brought much incremental growth, and the outflow of BTC ETFs in the U.S. stock market continues. The weakness in the market has led to a decrease in market confidence, and the implied volatility (IV) across major maturities continues to decline. The current IV level is at the average level of the winter bull market, providing some support, and the cost-effectiveness of buying now is quite good. The likelihood of the current level continuing to consolidate is low; without a rebound, it will inevitably lead to a downward continuation. Whales lack confidence in the future market, and large transactions deserve increased attention.