TechFlow reported, citing Adam, a researcher at Greeks.live, that despite today being the anticipated approval date for ETFs, Bitcoin has dropped below $45,000, hitting a recent low.
He noted that long positions are currently very fragile, with large traders increasingly initiating short bets, primarily by purchasing put options for the end of the month. As the ETF-driven rally nears its end, short-term speculation is waning, and monthly options have become the primary focus of trading.
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