According to BlockBeats, data from Greeks.live indicates that 24,000 Bitcoin (BTC) options and 157,000 Ethereum (ETH) options are due to expire today. The Put Call Ratio for BTC stands at 1.08, with a maximum pain point of $58,500 and a nominal value of $1.4 billion. For ETH, the Put Call Ratio is 0.37, with a maximum pain point of $3,100 and a nominal value of $490 million.

Adam, a researcher at Greeks.live, stated that the cryptocurrency market has seen a slight rebound this week, with the main term implied volatility (IV) experiencing a significant drop, falling to a new low since March. The quarterly delivery overlapped with large fluctuations, providing sellers with an ideal entry point. This cycle saw a large number of positions built by option sellers, which also became a driving force to suppress the main term IV.

The market atmosphere is not optimistic, with news of the ETH ETF being constantly delayed. Even if the ETF is listed as scheduled, mainstream views do not believe it can quickly bring in funds. The US stock market is also relatively weak, with the entire risk asset market relying on a September rate cut for rescue.