Wu said that according to Greeks live, 69,000 BTC options expired, with a Put Call Ratio of 0.37, a maximum pain point of $66,000, and a nominal value of $4.7 billion. 920,000 ETH options expired, with a Put Call Ratio of 0.46, a maximum pain point of $3,300, and a nominal value of $3.5 billion. Now the incentives for BTC and ETH are obvious. The IV of each major term of BTC has fallen to a relatively cold level, but ETH still maintains a high level. Selling ETH and buying BTC to make cross-currency IV difference is a good strategy, and the downward pressure on ETH IV is relatively large.