Bitcoin derivatives are flashing a defensive signal heading into September.$BTC sits at $78,425 with $54.82B in futures OI and ~$44B in options OI.
Calls still dominate the book at 60.9%, but puts captured 54.5% of the latest options volume.
With max-pain levels clustered around $70K–$80K, leverage is back—and traders are paying for protection.
September could get volatile. ⚠️
Like & RP: https://x.com/WiseCrypto_/status/2094267905965957448
