Greeks.live: The crypto market currently lacks new funds and a new narrative, and there are no signs of a reversal in the short term after the quarterly settlement

BlockBeats News, March 28th, Greek.live analyst Adam posted on social media, stating, "March 28th Options Expiry Data: 139,000 BTC options expiring, Put Call Ratio is 0.49, maximum pain point at $85,000, notional value of $12.1 billion. 301,000 ETH options expiring, Put Call Ratio is 0.39, maximum pain point at $2,400, notional value of $21.3 billion."

This week is the quarterly expiration week. The overall trend of the first quarter was below most people's expectations, with significant volatility during the period, ultimately closing at a relatively low price range. The expiration volume accounts for over 40% of the total open interest, with BTC options' expiration volume representing nearly 80% of the total expiration volume, and ETH options' expiration volume representing nearly 20% of the total expiration volume. Among other currencies, the largest is Sol at only 2%. Despite ETH facing much scrutiny, the market structure of open interest remains unchanged.

The Implied Volatility (IV) has decreased slightly, with BTC's major term volatility falling below 50% across the board, and ETH's major term volatility remaining around 60%. The cryptocurrency market currently lacks fresh capital and new narratives. Investor sentiment is starting to dull, with no immediate signs of reversal post quarterly expiry. Large holders are increasingly engaged in selling operations. Options market makers are intensifying their selling efforts, indicating there is still room for IV to decrease in the short term, making it challenging for buyers moving forward."