Greeks. live: BTC's dominance in the options market returns to 2021 levels, directly related to ETH's weakness

Adam, a macro analyst at Greeks.live, wrote on X platform: "The monthly expiration date in October is approaching, and overall, the trend in October is not as expected. The upcoming election and interest rate cuts have not brought too much good news and capital inflows to cryptocurrencies. The IV of the election week remains at 55%, while earlier options have been affected by the month shift, resulting in a significant decrease in IV, and the trading of bulk options has also increased significantly. Now, 40% of daily transactions come from bulk options. The dominance of BTC in the options market has now returned to the level of 2021, which is directly related to the weakness of ETH. Options market indicators now only need to look at BTC data