Community Daily Digest
Published: 2025-05-09
Overall Market Sentiment
The community is predominantly bullish on Bitcoin with traders expecting new ATHs after reclaiming the $88k level. Most traders are watching the $106-108k resistance level with consensus that breaking the previous ATH at $108k would lead to significant further upside.
Options Trading Strategy - Buying Tinies for Expected Volatility
• Traders note that low implied volatility, basis, and funding are setting up favorable conditions for higher prices
• Market makers are not marking vol up despite the move as they remain long gamma and want significant price movement
• Several traders recommend buying "tinies" (cheap OTM options) with strikes at $106-108k for upside and $94-96k for downside protection
• End of May (EOM) options are favored with some suggesting even more OTM strikes at $92k and $108k could be valuable plays
• The unusual 7K daily candle with significant liquidations suggests potential for more upside momentum especially if swaps/futures are heavily bid over the weekend
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