The Fear and Greed Index remains in fear territory as 116,000 BTC options and 206,000 ETH options, with a total notional value of $89 billion, are set to expire on Friday. The put-call ratios for BTC and ETH are 0.76 and 0.77, respectively, with maximum pain points at $75,000 and $2,200. Bitcoin has remained near $60,000 since early February. Implied volatility for BTC and ETH stands at 47% and 65%, with bullish options dominating the options market. Skew data has rebounded, suggesting early signs of a potential bottom.

BlockBeats news: According to data from Greeks.live on February 26, 116,000 BTC options are set to expire this Friday, with a Put/Call Ratio of 0.76, a maximum pain point at $75,000, and a notional value of $7.9 billion.

2.06 million ETH options will expire this Friday, with a Put/Call Ratio of 0.77, a maximum pain point at $2,200, and a notional value of $9.8 billion.

Adam, an analyst at Greeks.live, said that the current crypto market remains sluggish; in early February, Bitcoin briefly dropped to the $60,000 psychological level, and the entire month saw weak consolidation above $60,000.

Options representing 20% of total open interest, amounting to nearly $9 billion, expire tomorrow, with Bitcoin’s open interest reaching its highest level in recent years. Thanks to the recent two-day rebound, implied volatility for Bitcoin and Ethereum this week has risen, with Bitcoin’s primary term IV at 47% and Ethereum’s primary term IV at 65%. Although the downward price trend has eased, market confidence remains weak.

In terms of trading, large-volume call options dominate, with significant trading activity in medium- to long-term calls following yesterday’s rebound. Key options data also show a broad recovery in Skew, indicating the emergence of bullish sentiment and buying pressure.

Adam added that the market is still in a bear phase, with no new capital inflows or clear catalysts in the crypto space; pessimistic sentiment dominates social media, and bottom-line panic may not have arrived yet.

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