According to Greeks.live macro researcher Adam, the community is showing a clear bearish sentiment, with traders expressing concerns about Bitcoin's current valuation and buying interest. Key resistance is at $111,000, a level Bitcoin is expected to struggle to break through.

Traders are implementing a long put option strategy, anticipating a potential mid-week downtrend despite currently low volatility, selling call options at the $111,000 level, confident that "this is the top" and prices will "never go up." Volatility levels remain unchanged, with a slightly bearish bias, providing an opportunity for strategic positioning ahead of anticipated price action.