$BTC options expire with 30,500 contracts; Put/Call Ratio is 1.07; the biggest pain point is 82,000; $ETH options expire with 116,000 contracts; PCR 1.17; the biggest pain point is 2,660. In the first week after the quarterly delivery, BTC has been ranging around 85,000 for more than a week, with a rebound on the delivery day. For volatility, the implied volatility of the main maturities has declined versus last week; it remains at a low level within this bull cycle, and the risk premium has also been falling. The Gex peak is above 90,000. Bearish for 10 months and then slightly bullish for just over a month—now it’s consolidating sideways, and sentiment is improving. #BTC #ETH