TechFlow News, June 2: Bybit released its latest options weekly report, stating that last week’s key resistance level of $78,000 was fully tested; BTC surged but encountered strong resistance and subsequently underwent a deep correction. Technically, BTC has formed a bearish head-and-shoulders reversal pattern, with the neckline located between $73,500 and $74,000. A confirmed breakdown below this neckline would set an intermediate target of $65,000–$67,000, while $74,000 becomes the new critical resistance level.
On the macro front, U.S. equities continue to strengthen structurally, driven by genuine profitability in the AI hardware sector, creating a capital “siphoning” effect. Meanwhile, U.S. equity options sentiment has reached a historical extreme: the notional value of S&P 500 single-day call options exceeded $2.6 trillion—a record high. Goldman Sachs and Wells Fargo have jointly issued warnings, noting that conditions for a “long squeeze” are now ripe; risks may spill over into the crypto market via ETF outflows.
Currently, DVOL remains at historically low levels, compounding multiple downside risks. We recommend allocating 1%–2% of account equity to June BTC put options as tail-risk protection.
