2026-01-09 11:33:02

Interesting signals are coming from the options market. Currently, there are 21,000 BTC options set to expire, with a Put Call Ratio of 1.07, and the maximum pain point at $90,000. The notional value of this trade is approximately $1.9 billion. During the same period, ETH options are slightly larger, with 126,000 contracts expiring, a Put Call Ratio of 0.88, and the maximum pain point at $3,100, with a notional value of around $390 million.

From a volatility perspective, BTC implied volatility is currently roughly the same as before the Christmas holiday, with no significant fluctuations. In contrast, ETH implied volatility has decreased, suggesting that the market's uncertainty about Ethereum's short-term movement is diminishing. This divergence may reflect differing investor expectations—BTC remains cautious, while ETH is relatively stable.

BTC-0,22%

ETH0,13%

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MetaNeighbor

· 14h ago

The 90,000-dollar level is interesting. What are retail investors betting on?

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CryptoMotivator

· 01-10 02:39

Haha, the 90,000-dollar pain point is quite interesting. It seems the whales have laid quite a few traps here. ETH volatility is easing? Then I bet this wave will still be choppy. Don't be fooled by the illusion. BTC brothers are still tense, while ETH has already relaxed. The divergence is a bit outrageous. With a nominal value of 1.9 billion, it all depends on who can laugh last. Feels like this wave of options data is setting a trap for retail investors. If it’s too smooth, be cautious.

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MetaverseVagabond

· 01-09 12:02

The 90000 level... feels like the whales are waiting. --- ETH volatility is decreasing? That means it's time to move. --- With a nominal value of 1.9 billion, it feels like everyone is betting on BTC crashing. --- Put Call Ratio 1.07, bears are gathering strength. --- The biggest pain point is the real truth, everything else is just talk. --- The divergence between the two coins is so obvious, indicating the market is still hesitating. --- That 3100 line is too painful, it feels like it’s going to break. --- Implied volatility is steady? That’s the calm before the big move. --- Numbers starting with 92 are flashing, but they just won’t drop. --- Why is ETH so stable? That’s the most dangerous signal.

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BearMarketBuilder

· 01-09 11:54

The biggest pain point of $90,000 is, what are these funds betting on? BTC is still holding steady, ETH volatility has decreased, and the divergence is becoming more apparent. This game with a nominal value of 1.9 billion, frankly, still depends on whether it can break through.

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DataBartender

· 01-09 11:54

The biggest pain point of $90,000, is it really just the main players wanting retail investors to call daddy... --- ETH volatility is decreasing, what does this imply? Are the big players accumulating? --- The divergence in Put Call Ratio is so obvious, it feels like the big players are playing chess... --- A nominal value of 1.9 billion, such a move... how many people are about to get liquidated? --- ETH relatively stable? Ha, I think something is brewing. --- Looking at this wave of options data, it feels like the main players are setting a trap. --- BTC warns about ETH stability, a duet, brother. --- $3100 fixed point, there’s still some significance. --- Implied volatility unchanged? That’s too strange. --- This signal carries a bit of a different vibe.

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OnchainArchaeologist

· 01-09 11:40

90,000 dollars are really stuck here, BTC just doesn't want to get too excited this time --- ETH volatility is easing? That means the big players aren't planning to cause trouble for now --- 1.9 billion in nominal value... this number sounds pretty big, but what really determines the trend is the trading volume over the next two or three days --- The Put-Call ratio is so different, indicating that those shorting are still on the defensive, not so pessimistic --- The concept of the biggest pain point is always eerily accurate, just worried that it might suddenly reverse and break through as expiration approaches

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BlockchainGriller

· 01-09 11:38

The 90,000 level is really tough, gotta hold on again.

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