According to TechFlow TechFlow, on February 13th, data from Greeks.live showed that a total of 38,000 BTC options and 215,000 ETH options expired today, with a notional value of nearly $2.9 billion. The BTC option put-call ratio was 0.71, with a maximum price threshold of $74,000; the ETH option put-call ratio was 0.82, with a maximum price threshold of $2,100.
Despite the continued market decline, the implied volatility of Bitcoin and Ethereum has decreased, with BTC's main term IV at 50% and ETH at 70%, indicating a slight easing of the price downtrend. Notably, block trades now account for 75% of total trading volume, and call options have reached a recent peak, with approximately $1.7 billion primarily in deep out-of-the-money medium- to long-term contracts, suggesting that long-term investors are beginning to position themselves for this year's potential rebound.
Analysts believe that although the market is still in a bear market and the most severe decline has come to an end, it is too early to talk about a bull market or a major rebound due to the lack of new funds. The market may need to go through a period of consolidation and bottoming out before it can start to rebound.
