Greeks.live: The market is closely watching the Bitcoin price range of $103,000 to $108,000, with most traders adopting defensive positions

ChainCatcher news, Greeks.live macro researcher Adam posted on social media that after the announcement of Trump's cryptocurrency task force, there were divergent opinions in the group but a cautious bullish outlook, with $105,000 becoming a key support level. Traders are closely monitoring the $103,000-$108,000 range, holding a skeptical view on upward momentum, as the price movement, although volatile, remains within the range.

• Major trading activity is concentrated in recent options, with significant volume in the January 25 $110,000 call options but ultimately going to zero;
• Most traders are taking defensive positions, planning to buy call spreads and sell put options at the $102,000-$105,000 price level next week;
• Concerns are raised about upcoming volatility catalysts, including next week's FOMC meeting and the Lunar New Year (January 29), leading traders to adopt a cautious approach and partially reduce exposure.