According to CoinMeta, based on market data, as the Bitcoin price battle approaches, options betting has begun to shift towards a defensive stance. Bitcoin derivatives traders entered September with significant positions; the number of open futures contracts reached $54.82 billion, while the spot price was $78,425 at 7 p.m. Eastern Time on August 30th. At the same time, the options layout shows a more pronounced trend. Currently, call option contracts dominate the open contracts, with a large number of contracts expiring in September, and the levels of maximum pain (high volatility) are mostly concentrated at certain price points.