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Essentially, there is no particular circle that is truly more advanced; the hippies attending meditation retreats are not necessarily more refined than those who enjoy storytelling sessions. Liking reincarnation and Star Wars does not make one more aesthetic than those who appreciate gangster films, as the more niche the aesthetic, the more it lacks commonality. Furthermore, our generation has crossed the agricultural revolution, the industrial revolution, and the information revolution, crashing headfirst into AI; chaos is the norm, and all authority has been dissolved, with each idol proving to be just that. Memes are silent thunder, the ultimate expression of the crowd, and a challenge from subculture to mainstream culture $BNB {future}(BNBUSDT)
Traders' (institutions) views and predictions on the current market conditions
BTC options OI (30d sma) has reached a new historical high! It has reached a scale of 563,242 BTC. In the last cycle, the derivatives market was mainly dominated by perpetual/futures contracts, and the weight of the options market was not large. However, this cycle is different; more institutions, while holding BTC spot, will use the unique leverage properties of options for hedging, arbitrage, selling volatility, buying protection, and so on. For example, in the past, risks could only be avoided by selling spot; now, buying puts can achieve the same purpose, which also significantly reduces the selling pressure on the spot market.
Therefore, the direction of the option market premium represents the traders' (especially institutions) predictions and attitudes towards the current market conditions, which is very valuable for reference. Figures 2-3 show the flow of options premiums (net buying/net selling) for the three key strike prices of 85,000, 90,000, and 92,000.
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