Greeks. live: BTC and ETH experience sharp declines, with put options dominating the market

On February 6th, Greeks.live announced that 33000 BTC options had expired that day, with a Put Call Ratio of 0.54 and a maximum pain point of $80000, with a nominal value of $2.1 billion; 219000 ETH options have expired, with a Put Call Ratio of 0.91 and a maximum pain point of $2400, with a nominal value of $420 million. The price of BTC once fell below $60000, ETH fell below $1750, and the market panic index was as low as 5%. The implied volatility of BTC and ETH has significantly increased, with BTC's main term IV exceeding 60% and short-term parity IV exceeding 110%; ETH's main term IV reaches 80%, and its short-term average IV exceeds 120%. The proportion of put option trading volume remains high, and market makers have taken on a large amount of put demand.