According to ChainCatcher, Greeks.live macro researcher Adam posted on the X platform that 18,000 BTC options are about to expire, with a Put Call Ratio of 0.65, a maximum pain point of $61,500, and a nominal value of $1 billion. 164,000 ETH options are about to expire, with a Put Call Ratio of 0.36, a maximum pain point of $3,350, and a nominal value of $470 million.
In addition, Adam said: "At the beginning of July, the crypto market suffered a heavy blow, and major cryptocurrencies fell to a new low in several months. The market experienced huge fluctuations just after the quarterly delivery was completed, and the IV of the main terms increased significantly, which is a good opportunity for institutional sellers to build positions. The market atmosphere is relatively pessimistic, the IV of mainstream currency put options has increased significantly, and the term structure has shown an inverted phenomenon of far low and near high. There will be clearer news about ETH ETF in the near future. Friends who want to buy the bottom can buy some month-end bullish options, which are much more cost-effective than futures longs."
