Greeks.live: The Sharp Decline in Bitcoin and Ethereum Prices Continues, Bearish Options Dominate Absolutely

BlockBeats news, February 6, Greeks.live posted on social media: 'February 6 options expiration data: 33,000 BTC options expired, Put Call Ratio at 0.54, max pain point at $80,000, nominal value $2.1 billion. 219,000 ETH options expired, Put Call Ratio at 0.91, max pain point at $2,400, nominal value $420 million. The crypto market is experiencing a bloodbath, with BTC briefly dropping below $60,000 today and ETH briefly falling below $1,750. Today, options accounting for 10% of total open interest expired, totaling nearly $2.6 billion. The sharp decline in Bitcoin and Ethereum prices continues, with bearish options dominating absolutely. The fear index once dropped to as low as 5%, and panic has once again engulfed the crypto market. From the main options data, the implied volatility (IV) of BTC and ETH has risen significantly. BTC's major term IVs are all above 60%, with multiple short-term at-the-money IVs exceeding 110%. ETH's major term IVs are at 80%, with multiple short-term at-the-money IVs exceeding 120%, all reaching their highest levels in over a year. This week, bearish options block trading volume and trading proportion remain high, with market makers starting to take on large amounts of bearish demand. Trading willingness is relatively strong, and any brief bottom-fishing forces have been swallowed by the massive waves of decline.'