According to ME News, on July 2 (UTC+8), Adam, a macro researcher at Greeks.live, posted that Bitcoin has reclaimed the $60,000 psychological level, with GEX currently concentrated at $60,000 due to price repeatedly oscillating around this key level, causing both bullish and bearish positions to accumulate here. However, bearish positions are currently distributed between $55,000 and $60,000, while the area below $55,000 represents a trading vacuum—should the price break below, there is significant downside potential. Above $60,000 lies the range where price has repeatedly traded over the past few months, with more evenly distributed positions. Overall, downside risks appear greater, as macroeconomic uncertainty combined with capital outflows from the U.S. makes it difficult to provide support to the crypto market; currently, selling call options offers relatively high value. (Source: ChainCatcher)
Analyst: Bitcoin Faces Increased Downside Risk; Selling Call Options Currently Offers Better Value
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Summary
On July 2 (UTC+8), Adam from Greeks.live highlighted Bitcoin’s retest of $60,000, where GEX is clustered. The price has bounced repeatedly, building both bullish and bearish positions. Bearish exposure is concentrated between $55,000 and $60,000, with a void below $55,000 that could trigger a sharper decline if breached. The options market shows stronger positioning above $60,000, but macroeconomic uncertainty and U.S. capital outflows are weighing on risk appetite. Selling call options is currently viewed as more cost-effective.
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