Here's a wave of update on #BTC price action following the Federal Reserve meeting...
Overall, it still hasn't broken out of a large range...
From the overall order book situation, it can be seen that both demand and supply zones are quite thick right now...
Figure 1 + Figure 2:
The supply zone above is between 94k and 95k. Why can't it be pushed through several times? Because each time some is pushed back, new orders are added (spot + contracts). So this remains a continuous supply zone...
Similarly, between 90k and 87k is a continuous demand zone... That's why after a false breakout ab

But the previous $40 billion T-bill buyback implementation is also good news...

The same 600 million USD net selling pressure caused BTC to plummet by 7,000 points last time, but this week it is showing signs of upward movement—who is passively疯狂接盘 (crazy absorbing)?
Recently, I’ve been observing the bullish divergence in the spot market.
Over the past week, the spot market has endured a net selling pressure of 600 million (the entire network’s spot CVD shows an active net sell of 600 million).
However, the price has been very resilient.. Although it keeps showing signs of downward pressure, overall, it is still trending upward.
From this point of view, there is stil

Today #BTC Options GEX: Currently, 91k and 92k are neutral zones with no impact..
There is a positive gamma buffer around 90K that reduces volatility..
At 94k, the gamma has reversed from positive to slightly negative since yesterday (breaking through may slightly increase volatility).
At 95k, gamma remains positive with resistance. If the price surpasses 94k and the momentum is insufficient, it may get stuck around this level..
At 96k, there is still a strong negative gamma zone. If tonight's FOMC has an unexpected positive surprise and breaks through 96k, it could continue to accelerate upwa

Prices have risen, and large options traders have once again placed a bearish bet!
Today, let’s continue updating the market outlook based on options market bets before the FOMC... Take a look at the most traded strategic combinations in the past 48 hours.
The biggest bet: SHORT_RISK_REVERSAL, bearish outlook.
The top trading volume strategy accounts for the largest notional value (about $294 million).
One of the most traded combinations is: Buy 90000-P / Sell 98000-C 13DEC25
Directly betting that the price will fall below 90k, while selling the 98k call to collect premium to offset the

Above 94.5k, there’s a constant stream of sell orders... Yesterday, nearly 1,500 BTC contract sell orders and several hundred spot sell orders were just cleared...
Now, another 2,000+ have been placed... The bulls still have to grind...
#BTC

Ahead of the Fed meeting, options capital is betting on this scenario: no major blowups, no surges—ideally a slow rise...
Continuing to study options, I just focused on the main strategies adopted by options capital over the past 48 hours. This gives insight into how they’re positioning for the market:
Top Strategy: Bull Call Spread (BULL CALL SPREAD) — “I want upside, but not too much”
The overall stance is bullish, making this the dominant voice in the options market over the past 48 hours.
However, by using a spread, they’re signaling there’s a ceiling to the upside (e.g., 95k or 100k). The

The market is moving boringly, so let's continue researching #BTC options.
Three GEX tools compared: All confirm that the area around 90K is a price quagmire, and that 88k and 92k are the real key points of divergence!
I've been studying GEX for a week or two now and found that each tool calculates GEX differently...
I'm still in the process of verifying which tool's model is more accurate. Let's do a collective review today.
Chart 1: cryptogamma
This is a relatively new tool, and the author hasn't even written a clear help document yet... But after some previous verification, the understandin

#BTC In the past few days, spot selling on the three major exchanges has continued... Spot CVD keeps trending downward...
However, the price remains resilient, with buy orders absorbing the sell pressure and supporting the price...
Ongoing bullish divergence...

Be cautious... #BTC has another large spoofing order contract guiding the price downward...
The last time this happened was last Thursday...

The weekend continues to move sideways..
Finally managed to fill in the trades for this range that has been swept through N times..
Will take a closer look at the recent URPD late at night..

3 days of 4,000 #BTC selling pressure couldn’t break 90k. There were various fake orders guiding the market downward, and PCE data is coming soon. Today’s main battleground is 90k.
After checking in, things still seem pretty chaotic overall… have to take it step by step:
1. Yesterday, I observed a balanced state between longs and shorts on the order book, but starting last night, a new imbalance of selling pressure appeared on the order book (aggregated across the market). This imbalance has persisted up to now.
Looking at each exchange one by one, I found that this round of selling pressure m

3 days, 4000 units. The selling pressure hasn't broken 90k, and there are all kinds of fake orders guiding the market downward. PCE data is coming soon, so today's main battleground is at 90k.
Got up to take a look, and overall things are quite chaotic... just have to analyze bit by bit:
1. Yesterday, I observed a balance between buy and sell orders on the order book, but starting last night, there was a new imbalance in selling pressure on the order book (aggregated from all platforms)... This imbalance has continued until now.
Looking at each exchange individually, I found that this wave of

Binance and Bybit shorts are entering intensively...
Small spot orders at 92700 and 92500 absorbed a bit and have been broken. The key is still around 91600, where there are 200 spot orders hanging. Will they get taken out or will there be front-running...