The notional value of $8.38 billion BTC and $1.96 billion ETH options contracts is set to expire and settle today.

On January 31st, the analyst Adam from Greek.live posted on social media and said, "Today, 80,000 BTC options will expire and settle. The Put Call Ratio is 0.68, and the maximum pain point is $98,000 with a nominal value of $8.38 billion. 603,000 ETH options will also expire and settle today. The Put Call Ratio is 0.43, the maximum pain point is $3,300, and the nominal value is $1.96 billion." This week, the market has been relatively calm, mainly focusing on digesting the trading impact of Trump over the past three months. The monthly expiration volume accounts for nearly 30% of the total open interest. After the settlement, the open interest of quarterly options expiring at the end of March reaches 50%. Trump's presidency not only failed to bring the expected large influx of funds to the crypto industry but also led to market weakness due to meme issuance and slow policy releases. However, in the long term, there are still many bullish factors to look forward to. The Federal Reserve kept interest rates unchanged during its meeting, and the outlook for macro events is relatively stable. This week, attention will be focused on changes in U.S. government policies and ETF inflows.