According to the Bitfinex Alpha's latest report, Bitcoin has recently displayed a strong upward trend, temporarily dipping and encountering robust resistance this week. However, it did not prevent the digital currency from successfully breaching the $70,000 barrier on the Bitfinex platform on July 29th. Since reaching a low point on July 5th, Bitcoin has rallied by over 30%, aligning with the timeline of the Bitcoin Nashville Conference in 2024, which suggests potential market expectations and momentum. Concurrently, the implied volatility in the Bitcoin option market surged initially, reflecting an increased anticipation of price fluctuations among market participants. Yet, as traders adopted more cautious risk management strategies, volatility decreased. Looking ahead, with a significant amount of options expiring on Friday, August 2nd, there may be indications of market calmness, suggesting that prices could enter a period of consolidation or experience minor corrections.