Option delivery data on April 17th 22000 BTC options have expired, with a Put Call Ratio of 1.05, a maximum pain point of $72000, and a nominal value of $1.65 billion. 100000 ETH options have expired, with a Put Call Ratio of 0.95, a maximum pain point of $2250, and a nominal value of $460 million. This week, the market continued to rebound, with Bitcoin fluctuating around $75000 and the market beginning to rebound, with some concepts showing significant gains. The market share of Bitcoin options has slightly decreased, and the counterfeit market has rebounded. In terms of holding periods, the distribution of open contracts in the options market shows that 70% of positions are concentrated between April 24th and June 26th, especially the two key dates of the end of May and the end of April. From the main option data, Bitcoin's main term IV has significantly decreased this month, with most term IV falling to around 40%, and ETH's main term IV has also dropped to around 60%. In the short term, the IV has steadily increased this week, while in the medium to long term, the IV continues to decline. Skew continues to rise, the bear market atmosphere is weakening, and opportunities are beginning to emerge in the market. However, Bitcoin has still performed poorly in terms of price and popularity this year. Although there are some structural opportunities for the sustained rebound this month, from indicators such as capital flow, the current cryptocurrency is still characterized by a bear market.