From the IV levels and percentiles, both Bitcoin and Ethereum's IV show a downward trend. Considering the gamma level, Bitcoin will continue to fluctuate around 100K, while Ethereum will have a wider range fluctuating between 3300 and 4000. Solana's negative gamma is concentrated around 200, and there is also no upward momentum in the short term. Strategically, the focus remains on shorting volatility, maintaining delta neutrality, while slowly earning theta profits. The direction of the US stock market in 2025 is still quite unclear; it is better to wait for the first interest rate meeting of the year to set the tone before taking action. The period of waiting is always a friend to the sellers. $SOL