According to PANews, recent data from Adam@Greeks.live indicates that 37,000 BTC options have expired with a Put Call Ratio of 0.58 and a maximum pain point of $66,000, amounting to a nominal value of $2.4 billion. Additionally, 180,000 ETH options have expired with a Put Call Ratio of 0.55 and a maximum pain point of $3,300, totaling a nominal value of $600 million.

The analysis suggests that the crypto market has been relatively weak this week. The listing of the ETH ETF has negatively impacted ETH as anticipated, leading to an overall outflow of market funds. Several significant events have concluded smoothly, resulting in a noticeable decline in implied volatility (IV) across major maturities. The Dvol has dropped to its lowest level of the year, indicating low market expectations for the future.

Furthermore, the recent performance of U.S. stocks has been lackluster. As of August, there have been no significant positive developments to support the market, suggesting that the market may need to wait another one to two months for potential improvements.