Odaily Planet News: Macro researcher Adam from Greeks.live released a Chinese community brief, stating that "20,000 BTC options are expiring, with a Put Call Ratio of 1.39, the maximum pain point at $92,000, and a notional value of $2.3 billion. 120,000 ETH options are expiring, with a Put Call Ratio of 1.04, the maximum pain point at $3,200, and a notional value of $430 million."
This week, BTC continued its upward trend of the year once again, briefly approaching $98,000 and nearly reaching the $100,000 psychological level. However, the resistance at the $100,000 mark remains evident, with a large amount of long positions accumulating at this level. A total of nearly $2.7 billion in options expired this week, representing an increase of over 20% compared to last week.
Last week, data indicated that the $90,000 round number level for Bitcoin and the $3,000 round number level for ETH both showed strong support, and market sentiment had improved. As expected, this bullish trend continued this week.
However, from the main options data, BTC's implied volatility (IV) slightly decreased, while the skew slightly increased, indicating that the price of put options has relatively dropped. At the same time, all PC Ratios are above 1.0, suggesting that selling puts is currently the dominant trading force. Meanwhile, a massive amount of sell call orders has accumulated at the $100,000 level. Institutional investors' outlook this month is mainly focused on consolidation between $90,000 and $100,000, with very strong resistance and support levels.