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According to Odaily, Greeks.live posted an analysis on the X platform stating that today, Bitcoin Put block trades accounted for nearly 40% of the total transaction volume. The main concentration was on bearish spread trades for $75,000/$71,000 Put options expiring at the end of May, with a total notional value of nearly $200 million, aiming to set up defensive positions for the last ten days of this month during the rebound. Overall, the market is inclined to defend against a pullback, but does not anticipate a crash. May and June have traditionally been regarded as poor months for the market, and this month major investors have continued to increase their defensive positions: buying effective protection, selling tail-risk financing, and managing costs.

Major large orders are displayed as horizontal lines on the K-line chart. The thicker the line, the larger the order amount; the longer the line, the longer the order duration.

Prime Trust sued Strike, alleging that its insiders withdrew $29.5 million in cash and 1,939 Bitcoin before the company's collapse, and accused them of having knowledge prior to public disclosure. (Cointelegraph)