According to online reports, Bitcoin option data shows that traders have targeted higher price ranges. Open interest contracts on the Deribit Exchange are obviously concentrated on call options with strike prices of 115,000 and 120,000 US dollars. For longer-term options at the end of September and December, open interest contracts have been extended to strike prices of 140,000 US dollars and 150,000 US dollars. Chris Newhouse, director of research at DeFi trading firm Ergonia, pointed out: "The options market is reflecting strong bullish sentiment. The market broke through its all-time high just after experiencing the largest short closing since May 7, with approximately US$447 million in positions being forced out. This clearly shows that bearish positions are overcrowded and can easily trigger short squeeze." Market analysis believes that Bitcoin has hit a record high. Thanks to the unremitting accumulation of institutional investors, major players are absorbing a large amount of supply and consuming exchange liquidity.