We've experienced a week where the price moved slightly up and down, ultimately ending up in the same place. The decline that came with Elon and Trump's standoff was quickly recovered, and the strong structure continues to persist. Although ETH still appears somewhat weaker compared to BTC, Bitcoin continues to carry and dominate the market. We've entered a week where US inflation data will be announced and the G7 summit will begin. Since this will be one of the most critical data points for interest rate cuts, I believe its impact will be significant.

Bitcoin

After making its weekly opening, it closed slightly above its weekly opening with small movements. The price is also trading slightly above its monthly opening. In the movement experienced so far, it appears much less strong compared to ETH.

This week's implied volatility is similar to last week, ranging between 91k and 121k. I think the price harbors a desire to move upward, and I believe these 2 weeks will be quite positive. For this reason, I've taken upward positions.

The decline continues in the volatility index DVOL, but overall, contract purchases are also quite noticeably high. DVOL dropping this much suggests we might see sharp movements soon. In June 13 contracts, the Max Pain Price is 106k, and although call contracts are slightly more dominant, with a Put/Call Ratio of 0.95, it can't be said to have a very bullish appearance.

Ethereum

Similar to BTC but with more movement. Weekly closes have been closing in doji candle form for 4 weeks. Here too, similar to BTC trying to close above 102k, it's trying to hold above 2500.

This week's implied volatility range is again in the 2000-3000 range. ETH, which has been making range movements in approximately a 20% area for about 40 days, won't make sense to expect sharp movements without breaking the 2800 area.

In ETH this week, the put/call ratio of 0.80 looks somewhat bullish. With the abundance of contract purchases, we can say sharp volatility is approaching in ETH as well. However, due to its weaker appearance, looking at short ETH and long BTC might be more logical. The max pain level is 2550.

ETHBTC

There isn't much change here, but since mid-May, we see a squeeze with lower tops and higher lows in every movement. It might be more logical to wait for breakouts before taking positions. Otherwise, I don't think there's a bearish outlook as long as it doesn't stay below the 0.021 zone.

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