Odaily Planet Daily reported that Adam, a macro researcher at Greeks.live, posted on platform X stating that the options expiration data for July 4 shows: 28,000 BTC options expired, with a Put Call Ratio of 1.07, a maximum pain point of $106,000, and a nominal value of $3 billion. 237,000 ETH options expired, with a Put Call Ratio of 1.25, a maximum pain point of $2,500, and a nominal value of $600 million. Today is the first expiration day after the quarterly settlement, and the market is relatively stable. Recent hotspots have been on the tokenization of US stocks, which has undoubtedly diverted attention from the crypto market. Although BTC is once again pushing for a new high, market sentiment has clearly not been driven. From the main options data, regarding implied volatility, BTC's IV is still hovering at a low level, with medium to short-term IV comprehensively below 35%. ETH's IV has slightly retreated, falling below 60%, and there is still room for volatility cross-asset strategy operations.

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