Notional value of $1.25 billion in BTC options and $1 billion in ETH options are about to expire

According to data shows that 18,000 BTC options are expiring with a Put Call Ratio of 0.67, a maximum pain point of $70,000, and a nominal value of $1.25 billion. 260,000 ETH options are expiring with a Put Call Ratio of 0.64, a maximum pain point of $3,650, and a nominal value of $1 billion. Greeks.live indicates that this week, the Bank of Canada and the European Central Bank initiated interest rate cuts, and the entire venture capital market has performed well. The cryptocurrency market is now driven by both BTC ETF and ETH ETF, with a clear differentiation between macro and news aspects, and the market atmosphere is relatively optimistic. Currently, the IV of major BTC and ETH maturities is around 50% and 55% respectively, which has fallen to a reasonable level. Last week, it was mentioned that selling ETH and buying BTC to do cross-currency IV difference could be profitable. The trend of BTC this month is highly likely to be strongly related to macro news of the Fed's interest rate cuts, while the trend of ETH is mainly influenced by news of ETF approval.