
                                    <div>
                                      <h3>Market View</h3>
                                      <p>Bullish on BTC, 60k is strong support</p>
                                      <h3>Trading Strategy</h3>
                                      <p>Consider going long around 60k, but if it breaks, target 50k on the downside</p>
                                      <h3>Core Logic</h3>
                                      <p><ol>
    <li>
There are many profitable puts at 60k
    </li>
    <li>
market makers selling puts is equivalent to buying BTC. If 60k breaks, price could quickly drop to 50k
    </li>
</ol></p>
                                    </div>
                                    

Today, someone in the group chat raised a question, and I'll explain it. Why is 60k $BTC so firm on all exchanges? It's because, according to the data, at the 60k level, there are a large number of profitable puts, and market makers are selling puts (either taking profits and closing positions or selling to make money because IV is too high). Essentially, this is equivalent to buying BTC at 60k. If 60k is broken through, then it drops to 50k.

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Original article | Odaily Odaily(@OdailyChina)
Author｜Azuma (@azuma_eth)
In 2014, CZ, who had only been exposed to the concept of cryptocurrency for a year, made the most daring investment of his life—selling his apartment in Shanghai and "All In" on about 1,500 BTC for a three-figure price. Twelve years later, if CZ had never sold, this investment would have brought in a substantial profit of hundreds of millions of dollars (peak return of about $189 million).
Compared to the later establishment of Bina...