Impending Expiry of BTC and ETH Options Signals Market Weakness

According to BlockBeats, data from Greeks.live indicates that 18,000 BTC options are set to expire soon, with a Put Call Ratio of 0.64 and a pain point at $62,000, representing a nominal value of $1.2 billion. Additionally, 280,000 ETH options are also nearing their expiry date, with a Put Call Ratio of 0.74 and a pain point at $3,050, amounting to a nominal value of $800 million. The cryptocurrency market has been relatively weak this week, with trading volumes continuing to decline, indicating a persistent bearish trend. The outflow from the US BTC ETF has eased, but the weak coin price has led to a continuous decrease in market confidence. The IV of all major terms continues to drop, and the current IV level is slightly below the average waterline, providing some support. The space for further decline is not large. Historically, the market performance in May has been disappointing. Therefore, it is currently a good value to buy some monthly put options.