Greeks.Live: The cryptocurrency community generally holds a bearish sentiment, with geopolitical situations increasing market uncertainty.

On June 18, Greeks.Live posted on social media that the current crypto community is generally bearish, with traders maintaining short positions and focusing on the key support levels of $104,000 and $100,000. If the $104,000 support level is lost, the altcoin could plummet, raising significant concerns, while geopolitical tensions around Iran have also added to market uncertainty. In the current environment, long gamma positions are struggling, and the volatility curve is not moving despite the expected move of 1-2 standard deviations. At the moment, only directional trading is making money, and volatility strategies have little effect as the price is barely moving. During this “period of severe volatility”, traders are forced to quickly change the direction of their trades because traditional gamma strategies are underperforming.