Greeks live macro researcher Adam stated on the X platform that on April 3rd, a total of 28,000 BTC options will expire, with a Put/Call Ratio of 0.54. The maximum pain point is $68,000, with a notional value of approximately $1.8 billion; there are also 156,000 ETH options expiring, with a Put/Call Ratio of 0.73. The maximum pain point is $2,075, with a notional value of about $320 million. He mentioned that recent market conditions have been relatively weak, with a quick rebound followed by a rapid decline back to around $66,000. Market enthusiasm remains low, accompanied by multiple DeFi project risk events, showing bear market characteristics. In the first week of the second quarter, the market continued to be sluggish, and confidence recovery still requires time and capital support.