Odaily Planet Daily News: Macro analyst Adam from Greeks.live stated that there are 18,000 BTC options expiring with a Put Call Ratio of 0.67, a maximum pain point of $70,000, and a nominal value of $1.25 billion. Additionally, there are 260,000 ETH options expiring with a Put Call Ratio of 0.64, a maximum pain point of $3,650, and a nominal value of $1 billion.

This week, the central banks of Canada and Europe have initiated interest rate cuts, and the entire venture capital market has performed well. The encryption market is now driven by both BTC ETF and ETH ETF. There is a clear differentiation between the macro and news aspects, and the market sentiment is relatively optimistic. Currently, the IV of major BTC contracts is around 50%, and the IV of major ETH contracts is around 55%, both of which have fallen to reasonable levels. The ETH-BTC IV spread mentioned last week can be profitably closed by selling ETH and buying BTC. The BTC market this month is highly likely to be strongly related to the macro news of the Federal Reserve's interest rate cuts, while the trend of ETH is mainly influenced by the news of ETF approval.