Greeks.live: After the sharp drop in the price of Bitcoin to $98,000, group members are generally bearish in the short term
analyst Adam from Greeks.live posted on social media that "after the sharp drop in Bitcoin prices to $98,000, members of the group generally hold a bearish attitude in the short term, with most traders expecting prices to further drop to the range of $94,000 to $96,000. The trend is generally believed to be related to macro factors, and the sell-off of Nvidia and US tech stocks is seen as a triggering factor.
Put options with a strike price of $96,000 to $98,000 are active, and traders are gradually building defensive positions;
After the failed attempt to break through, many members closed out or extended bullish spread strategies above $104,000;
The group generally agrees to wait for a clear rebound confirmation around $98,000 before establishing significant long positions."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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