Greeks.live: Crypto Market Enters Consolidation Phase as Option Expiry Volume Significantly Decreases

BlockBeats News, March 21st, Analyst Adam from Greeks.live posted on social media, stating, "March 21st Option Expiry Data: 22,000 BTC options expiring, Put Call Ratio at 0.84, Max Pain at $85,000, with a notional value of $18.3 billion. 133,000 ETH options expiring, Put Call Ratio at 0.62, Max Pain at $2,000, with a notional value of $2.6 billion."

This week, the market has been relatively calm, with the total options expiry volume dropping by almost half. Short-term Implied Volatility (IV) has significantly decreased, with BTC's short-term volatility breaking below 50% and ETH's short-term volatility returning to around 60%, nearly halving the short-term volatility. Cryptocurrencies have entered a phase of free oscillation in a sideways trend. Investor sentiment is starting to dull as the quarter-end approaches, where whales typically seek stability.

Options market maker institutions are increasing their selling pressure again, tightening IV, indicating a bet on a short-term sideways trend. Recently, there haven't been many significant events in the cryptocurrency space, leading to a significant reduction in uncertainty. Market makers are seizing the opportunity to take profits, making it challenging for buyers in the coming weeks."