According to CoinMeta, data from August 7th shows that 32,000 Bitcoin options expired, with a put-to-call ratio of 0.26 and a maximum strike price of $64,000, representing a notional value of $2.06 billion. Meanwhile, 177,000 Ethereum options expired, with a put-to-call ratio of 0.77 and a maximum strike price of $1,900, and a notional value of $340 million. Bitcoin has been fluctuating around $64,000 this week, having traded in this range for over two months. The price range above $65,000 represents an area of heavy trading volume during earlier rebounds. As market attention shifts to other areas, the likelihood of speculative capital flowing in decreases, and the market direction may be downward. Key option data indicates that 9% of options expired this week, and there are a large number of new long positions in out-of-the-money call options recently, leading to a relatively dispersed put position situation. Bitcoin's put-to-call ratio (PCR) remains at the low level of 0.26, with a very low number of outstanding put option contracts, posing a greater potential crisis risk to the market.