In the cryptocurrency market, investors are always looking for various opportunities to profit and manage risks. Recently, activities on the Deribit platform have caught much attention. According to Lin Chen, the APAC Business Lead at Deribit, a user conducted a significant BTC options trade on the platform. Specifically, this user purchased put options with a strike price of $65,000 and call options with a strike price of $70,000, both expiring in late September. The total amount involved was 200 BTC, with a total premium of $2.468 million. This reflects the investor's expectations of current market volatility and their judgment on the Bitcoin trend within a specific price range. Based on Mr. Lin's analysis, the investor believes that there will be significant market fluctuations before the option expiration in late September. If the Bitcoin price ends up below $55,000 or above $85,500, it would be advantageous for the investor. This transaction not only reflects the complex views of market participants on the future trend of Bitcoin but also highlights the important role of the options market as a risk management tool.