http://Greeks.Live Community Daily Digest Published: 2025-05-14 Overall Market Sentiment Market participants are divided on whether Bitcoin will reach a new ATH soon, with many expecting it in May or June but others predicting a rejection before ATH. There appears to be growing caution as traders note the market seems overextended, with specific focus on the $105k level as a potential reversal zone. Options Strategy - Defensive Positioning • Several traders are taking profits on long calls and rotating into more defensive positions as they feel "everybody rushed in" • Put spreads specifically 104/100 for 23 are being discussed as a way to profit from a potential pullback • Some expect a double top pattern if BTC reaches new ATH, suggesting to "sell hard" rather than chase the upside momentum • Historical comparisons show people "rushing in at ATH got punished" previously, causing some to implement partial profit-taking strategies