Greeks.live: Most traders are watching $130,000.00 as Bitcoin's next major resistance level

Greeks.live macro researcher Adam released a Chinese community briefing, which pointed out that the group generally holds a bullish attitude towards the market. Bitcoin broke through $120,000.00 and continued to rise to $123,000.00. Traders believe that if it rises again this week, it will be a signal of a collective surrender of shorts. Most traders are focusing on $130,000.00 as the next major resistance level, but there is disagreement on chasing highs at this level, with some believing that the risk is too high to dare to 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 that are in the money, and the risk differences with settlement delivery. Cash-and-carry arbitrage strategies have become a hot topic. The current delivery contract has an 8% premium. Buying spot while shorting the delivery contract can obtain risk-free annualized returns. There is a high-leverage and strong-push phenomenon in the market. When Ethereum rises by 1%, the contract open interest increases by $1,000,000,000.00, and the leverage level exceeds the peak of the 2021 bull market. The English community briefing pointed out that the group is bullish on $ETH, and traders have encountered different results on their option positions - put options fell by 50%, while call options performed well. It is worth noting that despite the upward momentum, market participants remain skeptical, and people continue to open new short positions. [Odaily Planet Daily News]