Who has eaten this 60k bowl of noodles?

$BTC $ETH $BNB #比特币 #行情分析 #Trading Strategy

Brothers, today's market is kinda interesting.

BTC once dropped to 58,035 in early trading, hitting a new yearly low. It fell nearly 2,000 dollars in half an hour, with liquidations across the entire network reaching $1 billion, and Bitcoin longs alone being wiped out for $484 million.

Then? It bounced back. Pulled back above 61,000 in three hours. Now it's hanging around 59,500 again.

At this 60k level, both bulls and bears are fighting for their lives.

Today happens to be quarterly options expiration day, with nearly $10 billion worth of options expiring. A large number of put options have strike prices densely concentrated in the 58,000-60k range. What does that mean? Market makers need to maintain delta neutrality, so they have to keep selling in the spot market. That's why whenever the price gets close to 60k, it gets smashed down.

The macro side is also troublesome. Fed rate hike expectations are still heating up, the dollar is strengthening, and risk assets are under collective pressure. The Magnificent Seven tech stocks all fell last night, with Apple losing $1.8 trillion in a single night.

But there's a detail worth noting.

BTC went from 58,035 to 61,000+ in less than three hours, a $3,000 pull. What does that mean? There are people buying below 60k. Although after buying it got smashed back down, at least it shows that this level isn't entirely dictated by bears.

Some analysts say that if today's US data comes in weaker than expected, BTC could quickly bounce to 65K; if the data is strong supporting tighter policy, 45-55K could become a realistic downside target.

Personally, I prefer to wait until after options expiration to decide the direction. Under this "magnetic attraction effect" before expiration, direction is hard to judge.

A side note.

During last night's crash, I actually wasn't glued to the screen. Before bed, I set an AIX agent to run, and when I woke up this morning—it had finished on its own, taking profits on a few trades, both long and short. I didn't look at it the whole time.

How to put it, manually watching the screen in this kind of market is really tiring, and emotions easily get carried away. AI doesn't have this problem—it takes profit when it should, stops loss when it should, cold and mechanical but effective.

Back to the topic.

There are only a few days left in June, and BTC's June decline has already headed toward 20%. From the historical high of 126,000 in October last year, it has dropped by more than half.

At this level, both bulls and bears have their reasons. My advice: don't make positions too heavy, don't use too much leverage, wait until after expiration to talk.

Let's chat in the comments: Did you get washed out today or did you bottom fish?