Greeks.live: The bull market is not over, and the market sentiment is relatively optimistic

ChainCatcher news, Greeks.live macro researcher Adam posted on the X platform that the options expiration data for May 31 shows that 69,000 BTC options are expiring, with a Put Call Ratio of 0.37, and the maximum pain point at $66,000, with a notional value of $4.7 billion. 920,000 ETH options are expiring, with a Put Call Ratio of 0.46, and the maximum pain point at $3,300, with a notional value of $3.5 billion.

This week's crypto market is slightly subdued. May of this year can be said to be the best May in recent years, with ETH experiencing a single-day increase of 20%. The bull market this year has not ended, and the market sentiment is relatively optimistic. Currently, there is a clear divergence between BTC and ETH. The implied volatility (IV) of BTC across major maturities has dropped to a cooler level, while ETH remains high, facing significant downward pressure on IV.