BTC and ETH options with a notional value of $1.97 billion will expire and settle today, with quarterly settlement scheduled for next Friday.

According to Mars Finance, data from Greeks.live shows that 23,000 BTC options will expire today, with a put-call ratio of 0.88, a maximum support level of $70,000, and a notional value of $1.6 billion. Additionally, 176,000 ETH options will expire today, with a put-call ratio of 1.04, a maximum support level of $2,150, and a notional value of $370 million. Greeks.live analyst Adam stated that the current rebound in the crypto market has ended, with Bitcoin briefly falling below the $70,000 mark. The $75,000 level has been frequently mentioned as a key resistance level in the past week, with 5% of options positions concentrated at this price at the end of the month. Ultimately, the attempt to break through failed, and the price fell back to around $70,000. Next Friday is the quarterly settlement date. Looking at the options market data, $75,000 is the price with the most concentrated open interest and is an absolute resistance level. The $65,000, $62,000, and $60,000 levels below are also areas of concentrated open interest and can be considered support levels for further declines. This week, the implied volatility (IV) and velocities (RV) of options with major expiration dates remained largely unchanged. BTC's IV for major expiration dates was at 50%, and ETH's at 70%. The continued decline in RV led to a sustained increase in VRP. Only 5% of total open interest options expired, continuing to hit record lows. Despite volatility, Bitcoin trading activity remained extremely low. Due to the price pullback, skew rates declined across the board, indicating the market remains in a bear market, and bullish sentiment is very fragile.