Analysis: This week, implied volatility for Bitcoin and Ethereum increased, easing the downward price trend, but market confidence remains weak.

Greeks.live, in an analysis published on the X platform, pointed out that 116,000 BTC options are expiring, with a put-call ratio of 0.76, a maximum price threshold of $75,000, and a notional value of $7.9 billion. 206,000 ETH options are expiring, with a put-call ratio of 0.77, a maximum price threshold of $2,200, and a notional value of $980 million. The crypto market remains sluggish; Bitcoin briefly fell below the $60,000 mark in early February, and the price fluctuated weakly above $60,000 throughout the month. Tomorrow, options representing 20% ​​of total open interest, totaling nearly $9 billion, will expire, marking a peak in Bitcoin's open interest in recent years. Benefiting from the rebound in the past two days, the implied volatility of Bitcoin and Ethereum has increased this week, with BTC's primary term IV at 47% and ETH's primary term IV at 65%, indicating some easing of the price decline, but market confidence remains weak. In terms of trading volume, call options dominated, with a large number of medium- to long-term call options traded after yesterday's rebound. Looking at major options data, Skew also rebounded across the board, indicating bargain-hunting activity in the market. The market remains in a bear market; currently, there is neither new capital entering the cryptocurrency space nor any clear hot topics, and pessimistic sentiments permeate social media, suggesting the bottom may not yet have been reached.