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."