Woofun AI data shows that $1.43 billion in BTC and ETH options are expiring on July 24, comprising $1.2 billion in BTC contracts and $230 million in ETH contracts. The BTC Put/Call Ratio stands at 0.89 with a max pain point of $64,500, while ETH’s ratio is 1.25 with max pain at $1,875.

Greeks.live researcher Adam noted that overall implied volatility has fallen to 35%, reflecting a low-volatility market environment. BTC GEX distribution is concentrated at $65,000 and $72,000, whereas ETH GEX spans $1,900 to $2,200. Although ETH’s Put/Call Ratio dropped to 1.29, put option dominance has persisted for six consecutive weeks, indicating sustained hedging demand alongside bottom-fishing activity via shallow out-of-the-money options.