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