TechFlow news, June 17 — Chloe (@ChloeTalk1), author of the HTX DeepThink column and researcher at HTX Research, analyzed that although Israel's airstrike on Iran's nuclear facilities triggered global market turmoil, Bitcoin has demonstrated significant resilience. Unlike the 8.4% plunge during Iran's attack last April, Bitcoin dropped only about 4% in this incident and quickly rebounded to around $107,000. The market widely views $100,000 as a psychological support level; CoinGlass data shows that a break below this level could trigger over $1.74 billion in long liquidations.
On-chain data indicates that since June 13, more than $1.1 billion in long positions have been liquidated across the crypto market, with Bitcoin accounting for over 40%. The Fear & Greed Index remains in the "greedy" zone, suggesting the market has not fully entered risk-averse mode. The options market also reflects strong bullish sentiment. To date, Bitcoin options open interest has reached $42.5 billion, a new all-time high. Call options expiring in June and July, particularly those at strike prices of 110k and 120k, are heavily concentrated, with contract volumes exceeding 500,000 at single strike levels. Traders are broadly betting on Bitcoin reaching new highs. According to Barchart, current call option premium totals approximately $70 million, far exceeding the $15 million in put premiums, resulting in a Put/Call premium ratio of 0.21, indicating extremely bullish market sentiment.
The upcoming Federal Reserve meeting is also worth watching. Rising oil prices triggered by Middle East tensions may push inflation expectations upward again, while U.S. May CPI and PPI data show core inflation growth remains moderate. This "misalignment" between macro fundamentals and market pricing further increases uncertainty regarding the policy path. The market widely expects Powell will not signal a clear shift during this meeting, but instead continue with a "wait-and-see, data-dependent" approach.
