[March 27 Options Settlement Data] 68,000 BTC options expired, with a Put/Call Ratio of 0.56, a maximum price threshold of $74,000, and a notional value of $13 billion. 370,000 ETH options expired, with a Put/Call Ratio of 0.56, a maximum price threshold of $2,250, and a notional value of $2.12 billion. Today is the quarterly settlement day, with approximately 36% of Bitcoin and Ethereum options expiring. A large number of options were rolled over this week, peaking at over 40% of total open interest. Due to the large settlement day, the call ratio was very high, with a PCR of only 0.56. Despite market volatility, Bitcoin trading activity remained low. Looking at major options data, Bitcoin's main term IV (impact factor) was at 51%, and ETH's main term IV was at 70%. The continued decline in RV (reverse risk) led to a sustained increase in VRP (volatile price ratio), reaching nearly 20% in the first half of the week for 15-day options. Bitcoin performed poorly in both price and activity in the first quarter of this year, with insufficient market confidence. Hopes are high for improvement in the second quarter.