Greeks.live macro analyst Adam released data showing that 11,000 BTC options expired with a Put Call Ratio of 0.78, with a maximum pain point of $64,000 and a nominal value of $1.26 billion. 138,000 ETH options expire with a Put Call Ratio of 0.61, with a maximum pain point of $2500 and a nominal value of $360 million. Bitcoin rebounded significantly this week, while Ethereum's rebound was relatively feeble. This week, Ethereum option expiration positions were only less than 30% of Bitcoin's. From the perspective of implied volatility, ETH's flat-value option IV around January was only 4% higher than BTC, and it continued to decline.