According to Greeks.live data, 59,000 BTC and 529,000 ETH options will expire today, with a total nominal value of $5.78 billion. • BTC options: Put Call Ratio of 0.7, maximum pain point of $96,000, total notional value of $4.66 billion. • ETH Options: Put Call Ratio of 0.52, maximum pain point of $3,000, total notional value of $1.12 billion. The market was affected by the slump in US stocks and a number of security accidents. Mainstream coins fell sharply, BTC's short-term implied volatility (IV) soared to 90%, and ETH even exceeded 100%. Institutions had previously predicted that the market would lack funds and hotspots in February, and large option holders continued to sell short-term and medium-term call options. The current market panic continued to spread.