PANews reported on November 14th that, according to data from Greeks.live, a total of 41,000 BTC options and 228,000 ETH options expired on November 14th. The BTC put/call ratio was 0.61, with a maximum price drop of $105,000 and a notional value of $3.95 billion; the ETH put/call ratio was 0.59, with a maximum price drop of $3,475 and a notional value of $730 million. Bitcoin's price has fallen below $100,000, and Ethereum has seen three consecutive months of decline, indicating a shift in market sentiment from neutral to negative. Implied volatility (IV) has rebounded significantly, with BTC's short-to-medium term IV approaching 50%, ETH's major term IV above 70%, and short-to-medium term IV nearing 100%, suggesting increased market volatility expectations. Furthermore, the proportion of large-scale Bitcoin put option transactions continues to rise, currently accounting for approximately 30%, indicating that hedging has become a primary market objective. Affected by macroeconomic uncertainties, the market performance in the fourth quarter of this year was the worst in recent years, with significant market divergence. Investors are advised to operate cautiously and avoid leveraged trading.PANews reported on November 14th that, according to data from Greeks.live, a total of 41,000 BTC options and 228,000 ETH options expired on November 14th. The BTC put/call ratio was 0.61, with a maximum price drop of $105,000 and a notional value of $3.95 billion; the ETH put/call ratio was 0.59, with a maximum price drop of $3,475 and a notional value of $730 million. Bitcoin's price has fallen below $100,000, and Ethereum has seen three consecutive months of decline, indicating a shift in market sentiment from neutral to negative. Implied volatility (IV) has rebounded significantly, with BTC's short-to-medium term IV approaching 50%, ETH's major term IV above 70%, and short-to-medium term IV nearing 100%, suggesting increased market volatility expectations. Furthermore, the proportion of large-scale Bitcoin put option transactions continues to rise, currently accounting for approximately 30%, indicating that hedging has become a primary market objective. Affected by macroeconomic uncertainties, the market performance in the fourth quarter of this year was the worst in recent years, with significant market divergence. Investors are advised to operate cautiously and avoid leveraged trading.