[January 30 Options Settlement Data] 91,000 BTC options expired, with a put-call ratio of 0.48, a maximum support level of $90,000, and a notional value of $7.6 billion. 435,000 ETH options expired, with a put-call ratio of 0.68, a maximum support level of $3,000, and a notional value of $1.19 billion. Today is the first monthly settlement day after the annual settlement, with 25% of total open interest in options expiring, totaling nearly $9 billion. Call options dominate. Bitcoin and Ethereum prices entered a sharp downward trend yesterday. The panic that had recently eased has once again gripped the crypto market, and we are still experiencing the aftershocks of the sharp decline in the fourth quarter of last year. Currently, the $80,000 level for BTC and the $2,500 level for ETH both provide strong support. Looking at the main options data, the implied volatility of BTC and ETH has increased significantly. The implied volatility of BTC's main term options is around 45%, and that of ETH's main term options is around 60%, both at their highest levels this year. This week, options trading volume and proportion remained high, mainly due to rollover demand. Market makers and active traders currently have ample cash on hand and a strong willingness to trade, with the greatest demand coming from put-back hedging.