$BTC saw $1.76M in call premium bought versus $1.03M in put premium bought. The biggest print was a sell for $2.65M in the 24SEP27 $80000 put block, with blocks at 63% of prints; bought calls can hedge, but the daily balance matters more than any single print.

Since 2021, days in this very low band saw a median +0.0% BTC move over the next 7d (n=398, base +0.2%, 5y of records). History, not a forecast.