After rebounding, BTC is holding steady around $71,000, temporarily easing the risk of a downturn. The IV across major timeframes has seen a significant drop—BTC's short- and mid-term IV has fallen over 5% from its peak and more than 3% compared to two days ago. ETH's short- and mid-term IV has dropped over 8% from its peak and more than 5% compared to two days ago. Skew has fully rebounded, with many bearish options positions established during the crisis now closed. The balance between bearish and bullish forces has been restored. This Friday marks the quarterly expiration, with over 40% of options set to expire. The $75,000 level remains a strong resistance point, and breaking through within three days will be challenging.