TechFlow news, March 4: The Greeks.Live community daily report indicated that as the recent "Trump rally" has fully retraced, market sentiment has generally turned bearish, with traders closely watching the 86,000–87,000 USD range as a key support level. Most traders expressed concern over the market's reaction to Trump's tariff announcement, with many viewing yesterday's price movement as a trap designed to liquidate over-leveraged positions.
Regarding the impact of Trump's tariffs, the market is experiencing high volatility, with Bitcoin dropping 8,000–9,000 USD from recent highs, completely erasing yesterday’s gains. Traders noted volatility metrics had surged from below 40 to 70 within a week, creating a challenging environment for both long and short positions.
The majority believe the market needs time to digest the tariff news, expecting prices to bottom out by late March or April, while some traders are taking advantage of the sell-off to accumulate spot holdings and sell option premiums. The report also highlighted elevated near-term volatility in the term structure, with some traders implementing calendar spread strategies (selling near-term options while buying longer-dated ones) to capitalize on volatility patterns.
