Following its rebound, BTC has been consolidating around $71,000, with the immediate risk of a decline temporarily averted. Implied volatility (IV) across major maturities has dropped significantly: BTC’s short- and medium-term IV has fallen by over 5% from its peak and by over 3% compared to two days ago, while ETH’s short- and medium-term IV has dropped by over 8% from its peak and by over 5% compared to two days ago. Skew has rebounded across the board, with many put options opened during the crisis being closed out, restoring balance between bearish and bullish forces. This Friday marks the quarterly settlement, with over 40% of options expiring. The $75,000 level remains a strong resistance point, and breaking through it within the next three days will be challenging.(Greeks.live)