TechFlow News: On March 20, according to options analyst Adam@Greeks.live (@BTC__options), the crypto options market saw this week’s expiry: 23,000 BTC options expired, with a Put-Call Ratio of 0.88, a max pain point at $70,000, and a notional value of $1.6 billion; 176,000 ETH options expired, with a Put-Call Ratio of 1.04, a max pain point at $2,150, and a notional value of $370 million.
This round of the crypto market rally has officially ended, with Bitcoin briefly falling below the $70,000 psychological threshold. From the options open interest distribution, $75,000 stands as the definitive resistance level for next week’s quarterly expiry, while $65K/$62K/$60K below form dense support zones. BTC’s primary-term implied volatility (IV) currently remains at 50%, while ETH’s is around 70%; declining realized volatility (RV) has driven the volatility risk premium (VRP) higher. Overall, the market remains in a bearish configuration, with bullish momentum appearing fragile, and Bitcoin trading activity still at an extreme low.
