31 Jan Options Data 80,000 BTC options expired with a Put Call Ratio of 0.68, a Maxpain point of 98,000 and a notional value of 8.38 billion. 603,000 ETH options expired with a Put Call Ratio of 0.43, a Maxpain point of 3,300 and a notional value of 1.96 billion. The market was relatively flat this week, with the market mostly digesting the impact of the 3-month old Trump Trade, with monthly deliveries accounting for nearly 30% of total positions, and post-delivery quarterly options expiring at the end of March accounting for 50% of positions. Not only did Trump's inauguration not bring the expected large amount of incremental capital to the cryptocurrency community, but instead caused crypto market weakness due to the issuance of Meme and slow policy releases, but in the long run, it seems that there are still a lot of positives to look forward to. With the Fed rate meeting maintaining no rate cuts and expectations of subsequent macro events more stable, this week's follow-up focuses on the new administration's policy changes and ETF inflows.