The 38th week of the year is historically the third-worst performing week for bitcoin, averaging a return of -2.25%. Only week 28 (-2.78%) and week 14 (-3.91%) have been weaker historically, according to Coinglass data. This week, bitcoin is already down nearly 2%, trading around $113,000, with September’s monthly options expiry pointing to a max pain level at $110,000, according to Deribit, this could imply further downside. While, implied volatility (IV), which reflects market expectations for future price swings, is also near historic lows at 37. With roughly 14 weeks left in the year and most of those weeks historically producing positive returns, this may represent calm before potential volatility.