$6.4B in $BTC options just expired, and the outcome was pretty telling. Bitcoin settled around $79,682, while max pain was sitting much lower near $68K–$70K. That gap says a lot. Spot demand and short covering had a much bigger impact into settlement, while the huge $80K call strike kept price busy around that level. Now I’m more interested in what happens after expiry. The first area I’m watching is $77K–$78K. If buyers defend that zone and $BTC manages to reclaim $80K with strong spot volume, I think another move higher starts looking very possible. September’s expiry is the next major checkpoint, especially with ETF flows and macro events coming back into the picture. Dealer positioning should also become more important as new options exposure builds around the next strikes. For me, it really comes down to $80K. If $BTC can flip that level into support and hold it, momentum could pick up quickly from there.