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$ETH
{spot}(ETHUSDT)
ETH-260203-2500-C option, with the last traded price collapsing to 0.8000, marking a sharp ~93% drop on the day. Price is pinned at the 24-hour low, indicating strong selling pressure and little to no dip-buying interest at current levels. All key moving averages (MA7 ≈ 2.37, MA25 ≈ 2.02, MA99 ≈ 16.15) are far above the current price and sloping downward, confirming a strong downtrend and loss of momentum. Volume spikes on red candles suggest panic selling or forced exits rather than healthy distribution, while the inability of recent green candles to sustain above short-term MAs signals weak rebounds. Overall, the structure reflects a deeply out-of-the-money option nearing expiration, with rapidly decaying premium, dominant bearish sentiment, and high risk of further illiquidity unless there is a sudden, sharp move in the underlying ETH price.