Greeks.live: Most traders expect a significant drop in Bitcoin

Odaily Planet Daily News: Greeks.live macro researcher Adam released an English community briefing, in which he pointed out that the group is generally bearish, and most traders expect a significant decline, especially before the upcoming Bitcoin conference (May 27-29). There is a clear divergence between bears who expect an imminent crash and one bull who predicts the SPX will hit 6,650 by the end of July, while Bitcoin could hit $120,000 before a correction to $102,000. Despite the continued upward price momentum, most active traders still hold large put option spread positions. Traders plan to increase put options positions ahead of the Bitcoin conference as they expect volatility to be repriced as a result of the event.