According to BlockBeats, data from Greeks.live on May 31st revealed that 69,000 BTC options expired with a Put Call Ratio of 0.37, a maximum pain point of $66,000, and a nominal value of $4.7 billion. Additionally, 920,000 ETH options expired with a Put Call Ratio of 0.46, a maximum pain point of $3,300, and a nominal value of $3.5 billion.
The cryptocurrency market was somewhat subdued this week. However, this May has been one of the best-performing months in recent years. ETH even experienced a single-day increase of 20%. The bull market this year has not ended, and the market atmosphere is quite optimistic.
There is now a clear differentiation between BTC and ETH. The IV of BTC for all major terms has fallen to a relatively cold level, but ETH still maintains a high position. Selling ETH and buying BTC to make a cross-currency IV difference is a good strategy. The downward pressure on ETH IV is relatively large.