**The crypto market is experiencing a big volatility! BTC and ETH options are about to expire**

Hello everyone! Today we are going to talk about the latest developments in the cryptocurrency market. According to Greeks.live data, a large number of BTC and ETH options will expire on September 20, which is big news! 🤩

First, let's take a look at the situation of Bitcoin (BTC). Today, 20,200 BTC options will expire, with a Put Call Ratio of 0.86, a maximum pain point of $59,000, and a notional value of up to $1.28 billion. This Put Call Ratio is slightly below 1, which means that the bullish and bearish sentiments in the market are relatively balanced. However, the maximum pain point of $59,000 may have a certain impact on the market price.

Next is Ethereum (ETH). Today, 125,000 ETH options will expire, with a Put Call Ratio of 0.67, a maximum pain point of $2,350, and a notional value of $320 million. Compared with BTC, ETH's Put Call Ratio is lower, showing that the market is more bullish on ETH. However, the biggest pain point of $2,350 is also worth our attention.

Adam, a researcher at Greeks.live, said that the cryptocurrency market continued to rebound this week, and the Fed's 50 basis point rate cut slightly exceeded market expectations, which greatly boosted market confidence. As the third quarter is coming to an end, investors have begun to lay out investment strategies for the fourth quarter. After the rate cut, the implied volatility (IV) of all major maturities has declined. As the quarterly delivery approaches, IV is still under downward pressure.

From September to now, BTC has performed well, while ETH is relatively weak. It is worth noting that the ETH to BTC exchange rate rebounded at the long-term support level of 0.04, which adds some expectations for the market in October.

Overall, the cryptocurrency market is currently in a relatively stable but variable stage. Investors need to pay close attention to market dynamics, especially the impact of the expiring option delivery on market prices.

What do you think of this option expiration delivery? How do you think the prices of BTC and ETH will fluctuate? Welcome to share your views and predictions in the comment area, let's discuss this interesting topic together!

I hope this newsletter provides you with some valuable information. Remember to follow us to get more latest insights into the blockchain industry!