Just looking at Bitcoin options data, it turns out that strike $20K is still the traders' favorite choice ahead of the quarterly expiry. With BTC now at the $72.82K level, this position becomes a daily tail quite far from the spot price. It's interesting, many are still betting in that area for hedging or long-term speculation. It seems to reflect the defensive strategy of some big players who remain cautious even though the market is strong. We need to keep monitoring how this options sentiment develops before the quarterly expiry arrives.