【March 6 Options Expiration Data】

3.2 million BTC options are expiring, with a Put Call Ratio of 1.69, the maximum pain point at $69,000, and a notional value of $2.3 billion.
1.84 million ETH options are expiring, with a Put Call Ratio of 0.85, the maximum pain point at $1,950, and a notional value of $380 million.
The crypto market experienced a rebound this week, with Bitcoin stabilizing above the $70,000 mark and currently aiming to break through $75,000. However, based on options market data, selling call options has become the mainstream trading activity in the past two days. Although prices are still rising, the momentum has slowed.
Tomorrow, options accounting for 7% of total open interest will expire, which is nearly the lowest level in recent times, while Bitcoin's open interest share has reached a recent peak. Thanks to the recent rebound, implied volatility for Bitcoin and Ethereum has increased this week, with BTC's main-term IV at 55% and ETH's main-term IV at 75%.
In terms of trading volume, large-scale call options dominate, and from the main options data, skew has also rebounded across the board, indicating a clear improvement in market sentiment.
However, the market is still in a bear phase, and the risk-reward ratio for chasing longs remains average; the bottom has not yet been confirmed.