Greeks.live: The crypto market currently lacks new funds and new narratives, and after the quarterly Delivery, there are still no signs of a reversal in the short term.

According to BlockBeats news on March 28, Greeks.live analyst Adam posted on social media stating, “March 28 options delivery data: 139,000 BTC options expired, Put Call Ratio of 0.49, maximum pain point at $85,000, notional value of $12.1 billion. 301,000 ETH options expired, Put Call Ratio of 0.39, maximum pain point at $2,400, notional value of $2.13 billion. This week is the quarterly delivery, and the overall market performance in the first quarter has not met most people’s expectations, with significant volatility during the period, ultimately settling at a relatively low price within the range. The delivery volume accounts for over 40% of the total holdings, with BTC options delivery volume accounting for nearly 80% of the total delivery volume, and ETH options delivery volume accounting for nearly 20% of the total delivery volume. Among other coins, the largest, Sol, is only 2%. Despite significant questioning of ETH, the market structure of holdings remains intact. Implied volatility (IV) has slightly decreased, with BTC’s main expiry volatility falling below 50%, while ETH’s main expiry volatility remains around 60%. Currently, crypto assets lack new inflows and narratives, and investor sentiment is starting to dull. After the quarterly delivery, there are still no signs of reversal in the short term, and the operation of large investors doubling down is becoming more frequent. Options market makers have raised the intensity of selling again, and short-term IV still has room for decline, making it relatively difficult for buyers going forward.”