Greeks.live: Trading of put options with strike prices between $96,000 and $98,000 is active, with traders actively building defensive positions

ChainCatcher news, Greeks.live analyst Adam pointed out that after Bitcoin's price fell below $98,000, market sentiment turned bearish, with traders expecting the price to further dip to the $94,000-$96,000 range. Put options with strike prices between $96,000 and $98,000 have seen noticeably active trading, indicating that traders are actively building defensive positions.

Analysis shows that several traders have closed or rolled over their bullish spread strategies above $104,000. The market generally believes that this round of decline is influenced by the sell-off in Nvidia and the US tech sector. The consensus in the Greeks.live community is that it is necessary to wait for a clear rebound signal around the $98,000 mark before it is suitable to re-establish long positions.