On June 18, Greeks.Live posted on social media stating that the current crypto community shows a generally bearish sentiment, with traders maintaining short positions and focusing on key support levels of $104,000 and $100,000. If the $104,000 support level is lost, altcoins could plummet, raising significant concerns, and the geopolitical tensions surrounding Iran are also increasing market uncertainty.

In the current environment, long gamma positions are struggling, despite expectations of 1-2 standard deviation moves, but the volatility curve has not shifted. Currently, only directional trading is profitable, while volatility strategies are yielding minimal results as prices are barely moving. During this "period of extreme fluctuations," traders are forced to quickly switch trading directions as traditional gamma strategies perform poorly.