Odaily reported that Greeks.live posted on X platform, stating that 38,000 BTC options have been settled with a Put-Call Ratio of 0.71, a max pain point of $74,000, and a notional value of $2.5 billion. 215,000 ETH options have been settled with a Put-Call Ratio of 0.82, a max pain point of $2,100, and a notional value of $410 million.
The crypto market continues to decline, with the max pain point dropping rapidly. The options settled today account for 9% of the total open interest, with a total value close to $2.9 billion. This week, the implied volatility (IV) for Bitcoin and Ethereum has decreased, with BTC's major-term IV falling to 50% and ETH's to 70%. Although the pace of the price decline has slowed, market confidence remains weak.
In terms of trading activity, put options are dominant. After yesterday's market decline, some bottom-fishing behavior has begun to emerge. Key option indicators show that Skew is rebounding, and the proportion of call options in block trades is increasing.
The market remains in a bearish phase, but the most intense stage of the decline has ended. The current crypto market lacks incremental capital, making it premature to discuss a bull market or a significant rebound.
Odaily News According to Onchain Lens monitoring, a whale (0x982...ED8A) deposited $4.8 million USDC into HyperLiquid and opened a 20x leveraged short position on ETH. This position is still being increased. Six days ago, the same whale deposited $2.4 million USDC and opened a 10x leveraged short position on HYPE and a 20x leveraged long position on BTC.
According to data from SoSoValue, Ethereum spot ETFs recorded a total net outflow of $113 million yesterday (U.S. Eastern Time, February 12).
The Ethereum spot ETF with the largest single-day net outflow yesterday was Fidelity's ETF FETH, with a single-day net outflow of $43.5191 million. Currently, FETH's historical total net inflow has reached $2.471 billion.
Next was BlackRock's ETF ETHA, with a single-day net outflow of $28.9895 million. Currently, ETHA's historical total net inflow has reached $11.986 billion.
As of the time of writing, the total net asset value of Ethereum spot ETFs is $10.969 billion. The ETF net asset ratio (market value as a percentage of Ethereum's total market cap) has reached 4.74%, and the historical cumulative net inflow has reached $11.638 billion.
Odaily News According to on-chain analyst @ai_9684xtpa, the whale with a cumulative long position of 105,000 ETH has added back 3,000 ETH. 5 hours ago, he increased his holdings by 3,000 ETH at a price of $1,919, bringing the long position of a single address back to 60,000 ETH. The two addresses now hold a total of 105,000 ETH, with a total value of $204 million, incurring an unrealized loss of $10.229 million.
Address 0xa5B…01D41: Holds 60,000 ETH ($116 million), entry price $2,048.9, unrealized loss $6.36 million;
Address 0x6C8…D84F6: Holds 45,000 ETH ($87.34 million), entry price $2,029.38, unrealized loss $3.869 million.
Odaily News Sharplink Chairman Joe Lubin and CEO Joseph Chalom stated during a panel discussion at the Hong Kong Consensus Conference 2026 that Digital Asset Treasuries (DATs) are evolving into a unique institutional strategy. Lubin pointed out that ETH is a productive asset that can generate approximately 3% yield through staking. Sharplink has already staked nearly all of its holdings and plans to continue purchasing and staking ETH. Chalom said that Sharplink's strategy is to deploy permanent capital to seek risk-adjusted returns for investors through "good institutional DeFi," rather than pursuing venture capital-style returns. He mentioned that BlackRock plans to tokenize its $14 trillion in assets, with over 65% of this occurring on Ethereum.
Lubin predicted that in the future, every company will become a blockchain company and hold tokens on its balance sheet.
