Analyst: Options with a nominal value of $2.27 billion will expire today; various Bitcoin indicators still point to bearish market characteristics.

ME News Report, April 10 (UTC+8), according to Greeks.live data, a total of 27k BTC options are expiring on April 10, with a Put Call Ratio of 0.71, the maximum pain point at $69,000, and a notional value of $1.94 billion.
Additionally, 151k ETH options are expiring, with a Put Call Ratio of 0.77, the maximum pain point at $2,050, and a notional value of $330 million.
Greeks.live analyst Adam stated that this week’s market was stimulated by the ceasefire between the US and Iran, with Bitcoin directly breaking through $72,000, surpassing recent sideways trading ranges.
Bitcoin options market share has continued to exceed 80%, with the most held maturities being at the end of April and June, mainly focusing on the April expiry.
From the main options data, Bitcoin’s implied volatility (IV) for major maturities has dropped sharply, with most maturities around 40%, and ETH’s IV for major maturities has also fallen to around 60%.
Skew continues to rise, but the increase is not significant.
This year, Bitcoin has performed poorly in both price and popularity; this week is one of the few sustained rebound periods.
However, based on capital flow and other indicators, cryptocurrencies are still being driven by other markets, and all indicators point to a bear market characteristic.
(Source: BlockBeats)