Greeks.live: Most traders focus on $130,000 as Bitcoins next important resistance level
Odaily News Adam, a macro researcher at Greeks.live, released a Chinese community briefing, which pointed out that the group is generally bullish on the market. Bitcoin broke through $120,000 and continued to rise to $123,000. Traders believe that if it rises again this week, it will be a signal of collective capitulation by short sellers. Most traders focus on $130,000 as the next important resistance level, but there are differences in chasing long positions at this position. Some believe that the risk is too high and dare not chase the rise. The option synthetic delivery mechanism has triggered in-depth discussions, focusing on explaining how to achieve real delivery through perpetual contracts after selling call options in the money, and the risk difference with settlement delivery. The spot arbitrage strategy has become a hot topic. The current delivery contract has an 8% premium. By buying spot and shorting the delivery contract at the same time, a risk-free annualized return can be obtained. The market has seen a phenomenon of high leverage push. When Ethereum rises by 1%, the contract position increases by $1 billion, and the leverage level exceeds the peak of the bull market in 2021.
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