Yesterday's CPI data slightly exceeded expectations, temporarily pushing BTC down to $94,000. However, with Powell's favorable comments on crypto and other stimulating factors, mainstream coins are expected to appreciate to this week's high.

Currently, the implied volatility (IV) for major expiration options is at a relatively low level compared to the past year, with Dvol being below the current level only 14% of the time over the past year. Short-term IV is particularly low, with the IV for this month's expiration at only 46%, indicating a low expectation of volatility in the options market for the near future.

The main reason for this phenomenon is the continued weakening of bullish forces recently, with large whales consistently selling calls. Since the end of last month's settlement, the Skew for various expirations has been on a continuous downward trend and is currently oscillating near the zero axis.

Now is the time for the market to digest the Trump Trade, and following the large whales selling options seems to be a better choice.