[March 20 Options Settlement Data] 23,000 BTC options expired, with a Put/Call Ratio of 0.88, a maximum support 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 support level of $2,150, and a notional value of $370 million. The current rally in the crypto market has ended. Bitcoin briefly fell below the $70,000 mark. The $75,000 level has been frequently mentioned as a key resistance level in the past week. At the end of the month, 5% of options were concentrated at this price, ultimately failing to break through and falling back to around $70,000. Next Friday is the quarterly settlement. Looking at the options market data, $75K is the price with the most concentrated open interest and is an absolute resistance level. Below, $65K, $62K, and $60K are all areas of concentrated open interest and can be considered support levels for further declines. This week, the implied volatility (IV) and volatile interest (RV) of major term options remained largely unchanged. The IV for major term BTC options was at 50%, and the IV for major term ETH options was at 70%. The continued decline in RV led to a continued rise in VRP. Only 5% of total open interest in options expired, continuing to hit record lows. Despite volatility, Bitcoin trading activity remained extremely low. Skew declined across the board due to the price drop, indicating the market remains in a bear market and bullish sentiment is very fragile.