According to Odaily, macro researcher Adam from Greeks.live shared insights in an English community briefing, highlighting a prevalent bearish sentiment among traders. Most expect a significant downturn, particularly before the upcoming Bitcoin conference scheduled from May 27 to 29. There is a notable divide between bearish traders anticipating a sharp decline and a bullish trader who predicts the SPX will reach 6650 by the end of July, with Bitcoin potentially hitting $120,000 before correcting to $102,000.
Despite the ongoing upward price momentum, the majority of active traders are heavily invested in bearish options spread positions. They plan to increase these positions ahead of the Bitcoin conference, anticipating that the event will lead to a repricing of volatility.
