February 2nd, option expiration data showed that 22,000 BTC options are about to expire, with a Put Call Ratio of 0.66, a maximum pain point of $42,000, and a nominal value of $960 million. 23,000 ETH options are about to expire, with a Put Call Ratio of 0.33, a maximum pain point of $2,300, and a nominal value of $530 million. According to Greeks.live, the cryptocurrency market has been relatively stable this week, with RV and IV for major maturities showing a downward trend. With the slowing down of Grayscale's selling, Bitcoin spot ETFs have begun to bring incremental funds to the cryptocurrency market. Bulk trading is relatively flat, and some whales are reducing their positions, mainly to profit from ETFs. The next big focus is on speculating about the Bitcoin halving, and this year is still bullish.