The largest options expiration in history, the sharp drop in BTC is an opportunity to buy the dip
Today, Deribit will have Bitcoin options contracts worth over 14 billion USD expiring, setting a historical record. With such a large expiration, market fluctuations are inevitable. The maximum pain point is 100,000 USD, and currently, we are relatively far from this pain point, indicating a certain need for a pullback. The pullback range to watch is 103,000-105,500; a pullback is an opportunity to increase positions, with resistance above at 113,000;
Let's talk about the changes in the current environment. Powell has completely shifted stance after half a year, for the first time, he is dovish under pressure from Trump. Although there may still be variables before the interest rate meeting at the end of July, this significant directional change will greatly improve liquidity in the coming months. Funds have already started to run ahead, and in the next few months, BTC is expected to challenge 120,000-130,000 USD, and ETH to challenge 3,200-3,500 USD