Greeks.live: BTC Put Options Trading Active with a Strike Price of $96k to $98k, Traders Gradually Building Defensive Positions

BlockBeats News, January 27th, Greek.live analyst Adam posted on social media, stating that "After the Bitcoin price sharply dropped to $98,000, group members generally held a bearish view in the short term, with most traders expecting the price to further decline to the $94,000-$96,000 range. Regarding this trend, it is widely believed to be related to macro factors, with the Nvidia and overall U.S. tech stock sell-off seen as the triggering factor."

• Put option trading with a strike price of $96,000-$98,000 was active, and traders gradually built defensive positions;

• After failed breakout attempts, many members closed out or rolled over bullish spread strategies above $104,000;

• The group's general consensus is to wait for a clear rebound confirmation near $98,000 before establishing significant long positions."