According to Odaily, Greeks.live analyst Adam shared insights on X, noting that the upward trends of BTC and ETH have stalled. However, the implied volatility (IV) across major timeframes continues to rise. As mentioned previously, IV typically reacts to market changes with a delay. Over half of BTC options block trades are driven by active purchases of call options, while more than half of ETH's regular trading volume also comes from active call option purchases. Currently, bullish sentiment is stronger than bearish sentiment, but the overall market mood remains calm and has not yet entered a FOMO (Fear of Missing Out) phase.