Greeks.live analyst Adam wrote on the X platform that Bitcoin has returned above $71,500, and implied volatility across major maturities is rapidly declining, currently back to levels seen a week ago. VRP, which had just reversed to positive territory, quickly turned negative. Within a day, monthly VRP went from positive 2% to negative 9%, and the widening negative premium trend indicates that the market expects less volatility in the future than it does now. However, the extreme weakness of the crypto market in the first quarter of this year has not yet reversed, and market confidence remains weak.