Gate News report, April 3, Greeks.live macro research analyst Adam’s data shows that on April 3 there were 28,000 BTC options expiring, with a Put Call Ratio of 0.54, the maximum pain point at $68,000, and a notional value of $1.8 billion; 156,000 ETH options expiring, with a Put Call Ratio of 0.73, the maximum pain point at $2,075, and a notional value of $320 million. BTC options market share has clearly exceeded 80%, and trading activity is higher than ETH’s. Based on the key options data, BTC’s main-term IV has fallen below 51%, ETH’s main-term IV has dropped to below 70%, and RV continues to decline. Adam noted that this year’s first quarter saw BTC perform poorly in both price and momentum; the first week of the second quarter is similarly weak. Combined with multiple DeFi projects blowing up, all indicators point to bearish market characteristics, and rebuilding market confidence still requires time and financial support.
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