According to TechFlow, on November 7, Greeks.live published a post stating that the election market has cooled rapidly. Although Bitcoin and Ethereum have both risen sharply and the cryptocurrency market sentiment is optimistic, the options market is clearly ending profit-taking.

The implied volatility of Bitcoin's end-of-day options has fallen below 50%, and the implied volatility of all major indicators has fallen sharply. Ethereum has benefited from today's sharp rise and has fallen less than Bitcoin.

Large investors have begun to lay out the end-of-year market or even the spring market next year. Today, the transaction volume of Bitcoin's block trades reached US$1.2 billion, and the transaction volume of Ethereum's block trades reached US$600 million, both of which were mainly sold options, which is also the main driving force for today's sharp drop in implied volatility.

The blockchain trends in recent days are worth paying attention to, and the whales have begun to take action.