The cryptocurrency market performed poorly in September, with Bitcoin's price dropping nearly 10%, indicating a weak market sentiment and a significant lack of investor confidence. Currently, the market is in an overbought condition, suggesting that prices may have fallen below their long-term value. Recent studies point out that although macroeconomic data from last week did not significantly impact the market, participants are focusing on the upcoming Fed meeting scheduled for next Thursday. The general expectation is that the Fed will cut interest rates by 25 basis points, which has become the core of market discussions. The overall crypto market is showing weakness, with investors concerned about future uncertainties, leading to a rebound in implied volatility (IV) across all major time frames, with short- to medium-term IVs rebounding more significantly. This phenomenon reflects the market's sensitivity to the Fed's decisions, particularly its adjustments to interest rate policies and their impact on market sentiment and price movements. For investors seeking to engage in option trading in the current market environment, the current short- to medium-term IVs remain at year-to-date lows, providing a good opportunity to construct bear call spreads, which involve buying a put option with a lower strike price and selling a put option with a higher strike price to lock in potential gains. This strategy is relatively attractive in the current market environment because there is a high probability that the Fed will cut interest rates, which could drive asset prices further down and boost the returns of the constructed bear call spread strategy.