Bitcoin has experienced a modest rebound over the past two days, yet the options market remains subdued with short- and medium-term implied volatility generally at or below 35%. Ethereum's rebound has been weaker, with implied volatility around 65%. This recent uptick is attributed to President Trump making a public appearance, dispelling recent health concerns. In the broader market, both call and put options have seen active trading, primarily focusing on this month's quarterly options. Despite upcoming significant economic data releases, the options market is pricing in low future volatility, suggesting a potentially uneventful September.