Bitcoin, Ethereum Options Expire: $15.86B in Fear

Market sentiment has taken a turn for the worse, with a surge in Bitcoin's implied volatility (IV) and a widespread sense of fear among investors. According to Greeks.live, an analyst shared option data and market insights, revealing that 59,000 BTC options expired with a Put Call Ratio of 0.7, a max pain point of $96,000, and a notional value of $4.66 billion. Meanwhile, 529,000 ETH options expired with a Put Call Ratio of 0.52, a max pain point of $3,000, and a notional value of $11.2 billion.

The analyst noted that the market is on the brink of collapse, influenced by the plummeting U.S. stock market and multiple security incidents. The Implied Volatility (IV) has soared, with BTC's short-term volatility spiking to 90% and ETH's short-term volatility breaking through 100%. Market panic is spreading, as institutions had previously predicted a lack of market trends in February. Large option holders have been continuously selling medium-term and short-term call options for nearly a month, indicating a bearish sentiment among investors.

As the market experiences a sharp decline led by mainstream coins, investors are seeking safe havens. Gold, traditionally seen as a safe investment, has also been affected by the market downturn. The price of gold has fallen below $1,700 per ounce, a significant drop from its peak in August 2020. However, some analysts believe that gold's long-term prospects remain positive, as it serves as a hedge against inflation and currency devaluation.

The market's decline has also affected the cryptocurrency mining industry. According to a report by CoinShares, the total value of assets under management in cryptocurrency investment products fell by $1.5 billion in the week ending February 25th. This decline was driven by a decrease in Bitcoin and Ethereum investment products, which accounted for 95% of the total assets under management. The report also noted that the mining industry has been affected by the decline in cryptocurrency prices, with some miners struggling to maintain profitability.

The market's fear is also reflected in the options market, where the Put Call Ratio has increased significantly. The Put Call Ratio is a measure of the