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The data related to Meme prices, market capitalization, holdings, etc., in this article comes from GMGN.
Referrer: Qin Xiaofeng (X: @QinXiaofeng888)
Introduction: Options enthusiast, Meme buyer
Share: Early this morning, Israel attacked everyone's crypto accounts again, causing Bitcoin to drop by 5% and ETH to fall by over 10%. It is expected that the influence of geopolitical factors will continue in the coming days, so be cautious when going long.
In my personal operations, I actually started shorting last week and bought some put options, but I took profits after a 1x gain. On Wednesday, I bought a put option for 105000 BTC expiring on June 13, with an option fee close to 1000 USD, and I didn't take profits after a 1x gain, exiting last night at breakeven; then I bought a put option for 104000 BTC expiring on June 14, with an option fee of only over 130 USD, and this morning I took a 700% profit. Overall, this week's gains are not high, and I missed out on the major profits from the crash early this morning.
Currently, the ETH/BTC exchange rate is starting to rise, and today ETH is oversold, so there is a high possibility of a rebound. I suggest trying to go long on the exchange rate if you are trading. However, I am not optimistic about ETH making a significant rise this month because an institution bought over 2 million USD worth of call options for ETH at 3200 and 3400, and currently, that institution's position is down 70%. If ETH really surges above 3200 USD this month, that institution could make a significant profit, which would be difficult for the opposing side. The ideal scenario is for ETH to rise to 2800-3000 USD this month, waiting for the institution's options to expire, and then a big rise next month.
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