According to Greeks.live data, there will be 59,000 BTC and 529,000 ETH options expiring today, with a total nominal value of $5.78 billion.

• BTC options: Put Call Ratio is 0.7, with a maximum pain point of $96,000, and a total nominal value of $46.6 billion.

• ETH options: Put Call Ratio is 0.52, with a maximum pain point of $3,000, and a total nominal value of $11.2 billion.

The market is affected by the sharp drop in US stocks and multiple security incidents, leading to a significant decline in mainstream coins. BTC short-term implied volatility (IV) has soared to 90%, while ETH has even exceeded 100%. Institutions had previously predicted a lack of funds and hotspots in the February market, with large option holders continuously selling medium-term bullish options. The current market panic continues to spread.