March 20 Options Expiry Data

23,000 BTC options are expiring, with a Put Call Ratio of 0.88, max pain at $70,000, and a notional value of $1.6 billion. 176,000 ETH options are expiring, with a Put Call Ratio of 1.04, max pain at $2,150, and a notional value of $370 million. The crypto market's recent rebound has officially ended. Bitcoin briefly dropped below the $70,000 psychological level. Over the past week, $75,000 was frequently mentioned as a key resistance level, with 5% of end-of-month options concentrated at this price. Ultimately, the breakout failed, and BTC fell back near $70,000. Next Friday marks the quarterly expiry. Based on options market data, $75K is the most concentrated price for open interest and serves as a significant resistance level. On the downside, $65K/$62K/$60K are dense open interest zones and can be considered support levels. This week, the IV and RV of major-term options remained largely unchanged, with BTC's major-term IV at 50% and ETH's at 70%. RV continues to decline, causing VRP to keep rising. Only 5% of total open interest options are expiring, hitting a record low. Despite some volatility, Bitcoin's trading activity remains at an extremely low level. Due to the price pullback, skew has dropped across the board. The market is still in a bearish phase, and bullish sentiment remains very fragile.