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Greeks.live: Majority of Traders Focus on $130,000 as Next Key Resistance Level for Bitcoin
Summary: According to Greeks.live, macro researcher Adam released a Chinese community brief, indicating that the group generally holds a bullish view on the market. Bitcoin broke $120,000 and continued to rise to $123,000, with traders believing that another increase this week would signal a collective surrender of the bears. The majority of traders are focusing on ...
According to Greeks.live, macro researcher Adam released a Chinese community brief, indicating that the group generally holds a bullish view on the market. Bitcoin broke $120,000 and continued to rise to $123,000, with traders believing that another increase this week would signal a collective surrender of the bears. The majority of traders are focusing on $130,000 as the next key resistance level, but there is disagreement on going long at this level, with some considering the risk too high to chase the rally. The synthetic delivery mechanism for options has sparked intense discussions, explaining how selling call options can be realized through perpetual contracts after being in-the-money, and the risk differences compared to settlement delivery. The spot-futures arbitrage strategy has become a hot topic, with current delivery contracts having an 8% premium. By buying spot while shorting delivery contracts, risk-free annual returns can be obtained. The market is experiencing a phenomenon of high leverage pushing, with Ethereum increasing by 1% resulting in a $1 billion increase in contract positions, surpassing leverage levels seen during the peak of the 2021 bull market.
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Link: Greeks.live: Majority of Traders Focus on $130,000 as Next Key Resistance Level for Bitcoin [Copy]
