Analysis: Bitcoin and Ethereum options with a notional value totaling $1.97 billion expire today.

CoinFeed reported on March 20th that Adam, a macro researcher at Greeks.live, stated on the X platform that 23,000 BTC options expired on March 20th, with a put-call ratio of 0.88, a maximum resistance level of $70,000, and a notional value of $1.6 billion. 176,000 ETH options expired, with a put-call ratio of 1.04, a maximum resistance level of $2,150, and a notional value of $370 million. This marks the end of the current rebound in the crypto market, with Bitcoin briefly falling below the $70,000 mark. The $75,000 level has been frequently mentioned as a key resistance point in the past week, with 5% of options positions concentrated at this price at the end of the month. Ultimately, the attempt to break through failed, and the price fell back to around $70,000. Next Friday is the quarterly settlement date, and options market data shows that $75,000 is the price with the most concentrated open interest, representing a significant resistance level.