今天，价值超过142.1亿美元的比特币（BTC）和以太坊（ETH）期权到期

如今，价值超过142.1亿美元的比特币（BTC）和以太坊（ETH）期权将到期，这一事件可能会激发短期价格趋势。

Today marks the expiry of over $14.21 billion in Bitcoin (BTC) and Ethereum (ETH) options, an event that could significantly impact short-term price trends. As this massive expiry approaches, traders are keenly aware of how it might unfold and what implications it could have for the market.

今天，比特币（BTC）和以太坊（ETH）期权的到期超过142.1亿美元，这一事件可能会严重影响短期价格趋势。随着这种大规模到期的方法，贸易商敏锐地意识到它的发展方式以及它对市场的影响。

The majority of the expiring options, valued at $12.075 billion, are written on Bitcoin, with a put-to-call ratio of 0.49. This ratio indicates that more traders are betting on BTC going up rather than down. The “maximum pain” point of price where most traders would lose money is at $85,000. Currently, Bitcoin is trading at around $85,960.

大多数到期期权的价值为120.75亿美元，是在比特币上书写的，比例为0.49。该比率表明，越来越多的交易者押注BTC上升而不是下降。大多数交易者亏损的“最大痛苦”点点为85,000美元。目前，比特币的交易价格约为85,960美元。

This time period also marks a quarterly expiry, which typically sees a higher volume of options trading activity. In total, over 40% of the overall open interest in BTC and ETH options is set to expire today. Of the total options volume, nearly 80% is in Bitcoin, while 20% is in Ethereum.

这个时期还标志着季度到期，通常会看到更多的期权交易活动。总的来说，超过40％的BTC开放兴趣和ETH期权将在今天到期。在总期权量中，将近80％的比特币，而20％在以太坊中。

The expiring options on Ethereum amount to $2.135 billion, with a put-to-call ratio of 0.39 and a maximum pain level at $2,400. In contrast to Bitcoin, Ethereum’s volatility curve appears flatter, suggesting that while traders anticipate movement, there isn’t a clear directional bias.

以太坊的到期期权为213.5亿美元，呼叫比率为0.39，最大疼痛水平为2,400美元。与比特币相反，以太坊的波动曲线显得平坦，这表明尽管交易者预计运动，但没有明显的方向偏见。

Other cryptocurrencies, such as Solana, have only a minimal share in the expiring options. Despite concerns about Ethereum, the structure of the market remains stable. However, the first quarter ended weaker than anticipated, and the strong volatility has pushed prices towards the lower range of the market.

其他加密货币（例如Solana）在到期的选项中只有最少的份额。尽管担心以太坊，但市场的结构仍然稳定。但是，第一季度的结束比预期的要弱，强大的波动率将价格推向了较低的市场范围。

This expiry is larger than usual because it falls on the last Friday of March, marking both a monthly and quarterly close. Crypto options trading platform Deribit schedules the expiry of its options contracts for Fridays, aligning with the closing day of the week for traditional financial markets.

这种到期比平常大，因为它落在3月的最后一个星期五，标志着每月和季度的结束。加密期权交易平台deribit安排其周五期权合约到期，与传统金融市场的一周结束日保持一致。

In comparison, last week's expiry saw just $1.8 billion in BTC options expire, while today's event will see a significantly larger amount of options expire, making it a crucial moment that could influence market sentiment.

相比之下，上周到期的BTC期权只有18亿美元到期，而今天的活动将使期权大大增加到期，这使其成为可能影响市场情感的关键时刻。

According to analysts at Greeks.live, the majority of traders expect Bitcoin to retest lower levels, specifically between $84,000 and $85,000. However, Bitcoin has been confined to a rather narrow trading range in recent days, which could lead to some interesting price action as we approach the expiry of this quarter’s options.

根据希腊文的分析师的说法，大多数交易者预计比特币将重新测试较低的水平，特别是在84,000美元至85,000美元之间。但是，最近几天，比特币被局限于相当狭窄的交易范围，这可能会导致一些有趣的价格行动，因为我们接近本季度期权的到期。

Some traders are keeping an eye on resistance at $88,400 and strong support at $77,000. As for Ethereum, it's showing high trading volume but less of a clear direction in terms of price. This might leave traders adjusting their strategies based on implied volatility (IV), which is currently showing significant fluctuations due to the upcoming quarterly expiry.

一些交易者关注电阻为88,400美元，强劲的支持为77,000美元。至于以太坊，它显示出很高的交易量，但在价格方面却不清楚。这可能会使贸易商根据隐含波动率（IV）调整策略，该策略目前由于即将到来的季度到期而显示出明显的波动。

As for the broader market, traders are feeling extreme fear, as evidenced by the Fear & Greed Index being at 33. Despite big investors (whales) buying BTC, a large BTC transfer by the U.S. government and today's $16.5B options expiry might cause short-term price swings.

至于更广泛的市场，贸易商感到极端恐惧，这是33岁的恐惧和贪婪指数所证明的。尽管大型投资者（鲸鱼）购买了BTC，美国政府的大量BTC转移，今天的16.5亿美元期权的到期可能会导致短期价格波动。

For Bitcoin to remain bullish, it needs to break $90,000. However, with fear dominating the market, traders are approaching this moment with caution.

为了使比特币保持看涨，它需要打破90,000美元。但是，由于恐惧主导了市场，交易者谨慎地接近这一刻。

The Fear & Greed Index is at 33, indicating extreme fear among traders, which might make them trade more cautiously and could lead to potential short-term volatility.

恐惧和贪婪指数为33岁，表明交易者的极端恐惧可能会使他们更加谨慎地交易，并可能导致潜在的短期波动。

If cryptocurrency adoption continues and ETH 2.0 improves scalability, we might see Ethereum's market cap surpass Bitcoin's. However, for the time being, Bitcoin is still the dominant cryptocurrency, often referred to as digital gold.

如果采用加密货币，ETH 2.0提高了可扩展性，我们可能会看到以太坊的市值超过了比特币。但是，目前，比特币仍然是主要的加密货币，通常被称为数字黄金。