Odaily Planet Daily News Greeks.live macro researcher Adam Yu X said that 18,000 BTC options expired, the Put Call Ratio was 0.67, the maximum pain point was $70,000, and the nominal value was $1.25 billion. 260,000 ETH options expired, the Put Call Ratio was 0.64, the maximum pain point was $3,650, and the nominal value was $1 billion. This week, the Bank of Canada and the European Central Bank initiated interest rate cuts, and the entire venture capital market performed well. The crypto market is now driven by BTC ETF and ETH ETF. The macro and news aspects are clearly differentiated, and the market atmosphere is relatively optimistic. Now the IV of each major term of BTC is around 50%, and the IV of each major term of ETH is around 55%, both of which have fallen to a reasonable level. The cross-currency IV difference mentioned last week can be sold for profit. This month's BTC market is likely to be strongly related to the macro news of the Fed's interest rate cut, while the ETH trend is mainly affected by the news of ETF approval.