【February 27 Options Expiration Data】

116,000 BTC options are expiring, with a Put Call Ratio of 0.76. The maximum pain point is $75,000, with a notional value of $7.9 billion.
206,000 ETH options are expiring, with a Put Call Ratio of 0.77. The maximum pain point is $2,200, with a notional value of $980 million.
The crypto market remains sluggish. In early February, Bitcoin briefly fell below the $60,000 mark, and throughout February, the market has been weakly oscillating above $60,000.
Tomorrow, options accounting for 20% of total holdings, totaling nearly $9 billion, will expire. Bitcoin holdings account for a peak in recent years. Thanks to a rebound in the past two days, the implied volatility of Bitcoin and Ethereum has increased this week. The main-term IV for BTC is at 47%, and for ETH at 65%. The downward price trend has eased, but market confidence remains insufficient.
In terms of trading volume, large-scale bullish options dominate. After yesterday’s rebound, there has been a surge in medium- and long-term bullish trades. Based on key options data, Skew has also rebounded across the board, indicating a market bottoming force is emerging.
The market is still in a bear phase. Currently, the crypto space lacks new capital and clear hot spots. Pessimistic sentiments are flooding social media, and the bottom may not have arrived yet.