59000 BTC and 529000 ETH options will expire today, with a total nominal value of $5.78 billion

According to Greeks.live data, 59000 BTC and 529000 ETH options will expire today, with a total nominal value of $5.78 billion. BTC options: Put Call Ratio of 0.7, maximum pain point of $96000, total nominal value of $4.66 billion. ETH options: Put Call Ratio is 0.52, with a maximum pain point of $3000 and a total nominal value of $1.12 billion. The market has been affected by the sharp decline in the US stock market and multiple security incidents, leading to a significant drop in mainstream currencies. BTC's short-term implied volatility (IV) has soared to 90%, and ETH has even surpassed 100%. Previously, institutions predicted that the market would lack funds and hot spots in February, and major option holders continued to sell short - and medium-term call options. The current market panic continues to spread.