On May 20, HTX Research researcher Chloe (@ChloeTalk1) analyzed in the latest issue of HTX DeepThink column that the crypto market is in a stage of "high emotions and calm fluctuations" recently. The options market showed dominance of bulls, with the Call/Put ratio as high as 1.55 and the premium of call contracts continuing to rise; while the short-term implied volatility (IV) was pushed to an 18-month low of 35 - 40%. In this case, Bitcoin may rise to a new high again within 30 - 45 days, possibly breaking through the US$105,000 - 115,000 range. But at the same time, there is also a risk of accumulation of high leverage. Once volatility soars or BTC effectively falls below US$100,000, a deleveraging stampede adjustment may be triggered. Chloe said that in the face of the current market, under the premise of controlling the total position, if some funds are rotated and allocated to high-quality altcoins with solid fundamentals and strong liquidity, it may be able to bear the spillover momentum brought by the rise of Bitcoin. Tracks worthy of attention include SUI Ecological Leading Project Tokens and AttentionFi represented by Kaito.