Greeks live indicates that after the quarterly settlement and weekend consolidation, BTC's short-term implied volatility (IV) has dropped below 50%, with most terms staying around 50%; ETH's short-term IV has fallen below 70%, but most terms remain above 70%. Meanwhile, the volatility risk premium (VRP) has decreased from nearly 20% last week to about 10% currently, with a noticeable decline in large-scale options trading.