Svmuu News: Greeks.live posted an analysis on X noting that 116,000 BTC options are set to expire, with a put-call ratio of 0.76, a maximum pain point of $75,000, and a notional value of $7.9 billion.206,000 ETH options are set to expire, with a put-call ratio of 0.77, a maximum strike price of $2,200, and a notional value of $980 million.The crypto market remains sluggish. In early February, the Bitcoin briefly fell below the $60,000 mark, and the market has been trading in a weak range above $60,000 throughout February. Tomorrow, options representing 20% of total open interest—totaling nearly $9 billion—will expire, with Bitcoin’s share of open interest reaching a multi-year peak.Thanks to the rebound over the past two days, implied volatility (IV) for Bitcoin and Ethereum has risen this week. The main-maturity IV for BTC stands at 47%, while that for ETH is at 65%. Although the downward price trend has eased somewhat, market confidence remains low.In terms of trading volume, large-volume call options have dominated the market. Following yesterday’s rebound, there has been significant trading in medium- and long-term call options. Key options data from Skew also shows a broad-based rebound, indicating that market participants are beginning to buy the dip.The market remains in a bear market. Currently, the crypto space lacks both new capital inflows and clear catalysts, and pessimistic sentiment dominates social media. It appears the bottom has not yet been reached.