Greeks.live: Traders focus on the $98,000 support level

ChainCatcher news, according to Greeks.live macro analyst Adam's post on X, after the disappointment from Trump's executive order, Bitcoin failed to hold above $104,000. Traders are closely watching the key support level of $98,000, while hesitating between reducing exposure or increasing positions, with most adopting a cautious stance on aggressive directional bets.

Data shows that the market previously saw a large number of long positions at the $103,000 price level, but after no significant cryptocurrency-related announcements, most traders chose to close their positions and reduce their bearish options exposure.