Greeks.live: BTC options expiring at nearly $2.7 billion, with the biggest pain point at $92,000.

Adam, a macro researcher at Greeks.live, released a briefing in the Chinese community stating, "20,000 BTC options expired, with a put-call ratio of 1.39, a maximum resistance level of $92,000, and a notional value of $2.3 billion. 120,000 ETH options expired, with a put-call ratio of 1.04, a maximum resistance level of $3,200, and a notional value of $430 million. This week, BTC continued its upward trend this year, once approaching $98,000, just a step away from the $100,000 mark, but the pressure at $100,000 is still very obvious, with a large number of bullish sell orders accumulating at this level. A total of nearly $2.7 billion worth of options expired, an increase of more than 20% compared to last week. Last week's data showed that the $90,000 mark and the $3,000 mark for ETH both had strong support, and market sentiment also improved. This week, the bull market indeed continued. However, looking at the main options data, BTC's implied volatility (IV) decreased slightly, and the skewness..." A slight increase indicates a relative decline in put option prices, while the PC Ratio is consistently greater than 1.0, suggesting that selling puts is currently the dominant trading force. Meanwhile, a significant number of sell calls have accumulated within the $100,000 range. Institutional investors' view this month is primarily focused on a range-bound movement between $90,000 and $100,000, with very strong resistance and support levels.